According to the LME, Mediterranean Steel billet stocks rose further above 40,000 tonne in London Metal Exchange approved warehouses in Turkey.
As per report, the gain was mainly seen in Kocaeli, Turkey with stocks currently at 18,825 tonne. Among the total 15,525 tonne were open tonnage and 3,185 tonne were canceled tonnage.
Tekirdag, the other designated point of delivery in Turkey held inventories steady at 21,905 tonne with all stocks under open tonnage.
The third designated point of delivery for Mediterranean steel billet is Dubai, UAE, which has no stocks.
Meanwhile, LME Far East steel billet stocks in the two approved warehouses in Asia held steady at 4,810 tonne with Incheon, South Korea unchanged at 2,730 tonne and Johor, Malaysia remained at 2,080 tonne. All the inventories were under open tonnage.