Turkish billet market

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.