Turkish Billet export figures saw a marked improvement in January.
It was more than twice of what was exported in December 2012-112,179 tons and went up by 55% as compared to January 2012.
Exports figure for Billet and bloom stood at 268,936 tons in January.
Saudi Arabia imported 65.5% i.e. 178,847 tons, an increase of 45.2% YoY, which were 79,996 tons in December 2012.
Egypt imported 40,000 tons of Turkish Billet i.e. up by 64.4% YoY and thrice on MoM basis.
The total revenue generated from exports in January stood at USD 148 million, twice on MoM basis and up by 44.7% YoY.
The average exports price was $550/t, that was quoted at $589/t YoY.
Turkish Statistical Institute data
Current market scenario: In the last week, prices of Billet dropped by $5-10/MT in Turkey due to weak demand and cheaper imports of the raw material-scrap.
In Southeast Asia, offers reduced sharply in the week before, as a result of limited purchases being made.
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