Turkish mini-mills held billet export prices steady this week for the end of April rolling.
Sales were concluded in the range of $630-640 fob main Turkish port for May shipment, unchanged since last week.
Turkish producers are expected to raise offer prices next week after the Easter holiday, supported by a flurry of ferrous scrap sales from US and European suppliers this week.
Ferrous scrap market participants in Turkey have returned to the market in full force to rebuild inventories after several weeks without buying, which pushed up prices to Turkish consumers.
“Billet has been sold at a minimum of $630 fob. Ferrous scrap prices have increased so I expect mills to raise offer prices next week,” a trader in Istanbul said.
Sales were concluded to Saudi Arabia and Egypt this week for May shipment, Metal Bulletin was told.
The Easter break in Europe slowed down sales toward the end of the week as people retreated from the market to go on holiday.