[SMM Steel] Black Sea Shipping Disruptions Push Up Freight Rates; Turkish Billet Imports Pivot Toward Overland

Published: Aug 5, 2026 16:36

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[Turkey] Driven by frequent attacks on merchant vessels in the Black Sea and surging freight costs, shipping rates from the Russian Black Sea to Turkey have reached approximately 40 USD/tonne, prompting buyers to largely halt new order placements from the Black Sea region. This supply bottleneck pushed Turkish steel billet import quotes slightly higher to 490 USD/tonne CFR. However, with domestic finished steel demand remaining sluggish and mill capacity utilization running low, buyers have not engaged in panic procurement. Against this backdrop, Turkish buyers are substantively adjusting their procurement strategies, with delivered prices for Iranian billets via rail recently stabilizing at 480–485 USD/tonne.

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