IREPAS billet suppliers’ committee: Billet supply and demand currently balanced

In the last session of the SteelOrbis Spring '12 Conference & 66th IREPAS Meeting held in London on April 1-3, long product and billet suppliers and producers, as well as traders and raw material suppliers, shared the conclusions they reached at their special committee meetings regarding the current situation in the markets with the general participants at the event.
 
Uğur Dalbeler, chairman of both IREPAS and the billet suppliers' committee, stated that, due to the situation regarding Iran, steel billet supplies which used to be sent to Iran are now being consumed domestically in the CIS region,  where steel billet consumption has remained strong in recent years and is expected to remain strong in 2012. Mr. Dalbeler said that billet consumption in Turkey and the Gulf region has also been strong so far in 2012, and that the outlook for billet consumption in these areas remains positive. On the other hand, he said that the market situation in North Africa and Syria remains difficult to predict. However, there are positive expectations for steel billet consumption in Iraq. Regarding the Americas, the central and southern American markets have also started importing steel billet and the prospects are bright for these regions. Dalbeler concluded by saying that supply and demand in the billet market are currently balanced.