The price level of Turkish billets is currently at $450-460/mt FOB for February shipments. The strength of
billet demand in the domestic market restricts the availability of
billet quantities for export. Therefore, Turkish producers are not making many
billet export offers. However, Turkish producers are asking above $450/mt FOB in case of
billet demand from buyers. SteelOrbis has heard that some buyers are ready to pay above $460/mt FOB
Turkey for prompt shipments in the month of January.
After the
rebar prices started to rise, the demand of the rolling mills for
billet increased. However, the rolling mills in the
Middle East and Gulf regions have difficulty in finding prompt
billet cargoes from
Turkey,
CIS,
China and
India.