Weak finished steel demand negatively impacts billet demand in Turkey

Wednesday, 16 January 2019 15:05:07 (GMT+3)   |   Istanbul

It is observed that demand in the local Turkish billet market has been at low levels over the past week. Market sources state that the ongoing weakness of long steel demand in Turkey has caused billet demand to remain at low levels. Turkish billet producers have cut their domestic billet offers by $5/mt week on week only on the lower end to $420-435/mt ex-works. Meanwhile, SteelOrbis has been informed that Turkish billet mills’ export offers are at $420/mt FOB, which is considered to be on the high side as compared to their competitors, and so they are not receiving demand from international markets.

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