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Prices are rising as the billet purchases gain momentum

Turkey has mobilized its billet purchases to meet the need for rebar in earthquake zone repair with a rapid production. According to this…

Prices are rising as the billet purchases gain momentum

According to the information that SteelRadar correspondent obtained from market representatives, the works have been started to meet the urgent housing needs in the earthquake region that affected 10 provinces in Kahramanmaraş. Producers in the domestic market will provide support for approximately 4 million tons of rebar to be heard. Due to the weak demand experienced in the last months of the last year and the first month of 2023, the factories, which started to decrease in production capacity, started to produce rebar rapidly. At the same time, billet purchases from Russia also gained momentum. It has been reported that prices for import billet deals have reached $620. While the demand for imported billets will push the prices upwards, the production of Payas and its surroundings will intensify the demand even more.

There are 2 different alternatives in front of Turkey

First, the businesses that stopped will be restarted, damaged facilities will be restored, production capacity will be increased from 58% to 75%. In addition to all these, exports of steel products will be limited, causing prices to fall.

Another option is to increase exports and intensify the interest of local steelmakers to compete with imported products in order to attract foreign capital to finance restructuring efforts.

Considering Turkey's power in the world steel market in both options, the Turkish steel industry will be intense this year.

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