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
"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.