Ex-Turkey billet offers decline, no surge in demand

Due to drops seen in ex-CIS billet offers in addition to the silence observed in billet importing markets and the Turkish domestic market, Turkey's steel billet export offers have declined by about $10/mt since last week to the price level of $600/mt FOB.
 
Demand for Turkish billet offers at $600-610/mt FOB is far from being impressive, with no large volume transaction heard lately. While the uncertainty in the market makes it difficult to predict how far prices will continue to regress, it is thought that Turkish steel billet offers may hold their ground at $600/mt FOB mark for a while.