No sign of softening for Turkish billet

Turkish mills' billet prices have been trending sideways for quite a while now, while there is no sign of a price softening thanks to transactions to both domestic and foreign markets. There have not been any volumes available below $570/mt ex-works, with the price of billet in this week's domestic sales at $575/mt ex-works. Besides, SteelOrbis has learned that an ex-Turkey billet transaction was concluded this week at $570/mt FOB.
 
On the other hand, demand coming from Iran for Turkish billet has increased lately and, given that steel billet sales via letters of credit are now possible between Turkey and Iran, it is thought that Turkish steel billet will maintain its current price levels for some time more.