GLOBAL BILLET WRAP: Market mostly quiet on China falls, Easter holidays

The global billet market remained quiet last week amid a downturn in semi-finished prices in the Chinese domestic and export markets.

And Metal Bulletin's iron ore index tumbling below $70 per tonne cfr China also made customers cautious.
Besides that, buying activity in most of the markets was reduced this week due to the approaching Easter holidays.
Meanwhile, in Turkey customers showed little interest in scrap and billet purchases ahead of the Sunday April 16 vote to amend the constitution and create a presidential system of government on Sunday April 16.
China
Tangshan billet prices started last week with a 30 yuan ($4.30) per tonne recovery on Monday, reaching 2,980 yuan ($432) per tonne after a decrease of 80 yuan ($11.60) per tonne on Friday afternoon.
By late Wednesday the price, however, dropped to 2,850 yuan ($413) per tonne.

The drop in spot rebar prices caused by the weak demand and pressure from inventories in...

Published

Vlada Novokreshchenova

April 17, 2017

00:01 GMT

Dnepr