Weak demand for finished long steel products in both the domestic and the export markets together with bearish sentiment for import scrap forced Turkish consumers to seek lower import billet prices.
Fastmarkets MB's weekly price assessment for billet imports into Turkey was at $420-440 per tonne cfr on Thursday December 20, down from last week's range of $435-445 per tonne cfr. Market participants reported several cargoes of billet from rebel-held mills in the East of Ukraine being sold to Turkey within the range of $413-422...