Turkish mini-mills have kept billet export prices unchanged for a seventh consecutive week due to stability in ferrous scrap prices from US suppliers.
Small parcels of billet have been changing hands at $630-640 per tonne fob main Turkish port, a level unchanged since the middle of March, according to Turkish market participants.
Demand for Turkish billet has remained weak and sales to consumers in the export market have been scarce this week.
US ferrous scrap suppliers have held their offers steady for the second consecutive week at $452-453 per tonne cfr Turkey.
Due to sluggish demand from Turkish mini-mills, however, Metal Bulletin has not heard of any deals for US ferrous scrap.
“I’ve heard of Turkish billet deals at $630-645 fob. The export market is quiet,” a trader said. “There has been a slowdown in buying activity this week.”
CIS billet has sold at $600-610 fob Black Sea for May production, down from $605-610 fob previously.
CIS mini-mills have been struggling to sell billet
to the export market due to poor demand.