Turkey's demand for billet has increased, but waiting for reasonable price offers

Turkish steelmakers increased their billet demand to meet the earthquake zone iron needs.

Turkish steel mills, which sought bids for billet prices from many countries such as Oman, United Arab Emirates, Qatar, and Saudi Arabia, withdrew this week as rebar and billet prices softened.

While an Omani mill is offering prices at $675-680/t cfr Turkey for April shipment, quotations have been heard for Iranian billet at $630-635/t cfr.

Recent offers are on average for Turkey at $640-650/t cfr for April shipment, but demand has slowed even at these prices. Turkish producers do not want to give more than $630/ton.

Market representatives predict an increase in demand if the Russian billet from the $650 level decreases to $620-630/ton cfr.