September 07, 2008

Turkey\'s billet prices continue to rise on strong demand in Asia

It is reported that currently Turkey’s domestic price of ST37 billet is prevailing at around USD 550 to USD 570 per tonne and the lowest export price is FOB USD 550 per tonne.

However, if rebar price continuous to increase, steel billets price increase will be followed. Although the price is not competitive in Middle East area, the buyers are expected to accept the new price because demand is good.

It is also driven by increases by CIS mills, which are raising their steel billet price to FOB USD 530 to USD 535 per tonne. As per reports, a transaction for billets from CIS into Middle east has been setteled at USD 620 per tonne on CFR basis. Far eastern steel billet market continuous to be strong and Russian steel billet import price has reached CFR USD 610 per ton in Vietnam.