The upward trend of Billet prices by $3/MT FOB Black Sea in the start of this week as compared to the last week is unexpected to sustain for a long time.
Billet offers stand at $525/MT FOB Black Sea presently.
The temporary hike in price is the result of improved Turkish Billet prices in domestic market and increase in demand of scrap in Turkey.
Billet import prices in Turkey goes up to $550/MT CFR as the last few transactions in Turkish domestic market took place in the range of $540-560/MT (Ex works).
The deal took place during the last week and in the beginning of the current week which resulted in import price rise.
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