In Turkey, both import and export billet prices have softened over the past week, in line with falling offers for rebar and wire rod as well as poor demand.
Offers of CIS-origin billet from traders were reported at $420 per tonne cfr, down by $5 per tonne week on week, while the highest bids from Turkish customers were heard at $410 per tonne, sources said.
Offers from CIS mills were limited last week due to holidays in the region. There were public holidays in Russia from January 1 to January 8, while in Ukraine the official holidays were December 25, December 30, January 1 and January 6-7.
“Reflecting the downturn in the rebar and wire rod prices, Turkish billet prices have also gone down over the past week,” a Turkish source said. “Apparently, higher prices did not work.”
Turkish producers lowered their rebar offers to $440-455 per tonne fob...