Demand continues to come from
Iran for ex-
Turkey billet. This demand from
Iran had appeared when prices started to go down in
Turkey and has contributed to creating a positive atmosphere in the Turkish long steel market.
Iran's demand for
Turkey origin
billet is also boosted by the proximity of the countries and by the availability of the option of using letters of credit when buying Turkish
billet. Meanwhile, the latest
billet transactions from
Turkey to
Iran have been concluded at the level of $605/mt ex-works for advance payment and for prompt shipment, while deals for September shipments have been standing at $610-615/mt FOB via letter of credit.