CIS export billet market unclear as optimism mixes with caution

CIS-region export billet market participants held diverging views about the direction prices will move on Friday May 5, as some higher-priced deals were heard but expectations were also voiced of a price fall after a softening in Chinese domestic prices.

Prices came under opposing influences when Chinese domestic steel product prices started to soften this week while Turkish import scrap prices continued to rise.
In addition, iron ore prices tumbled on Friday due to the fall in the China’s futures and steel markets.

A deal for an undisclosed quantity of Ukraine-origin billet was heard at $410 per tonne cfr Egypt on Friday. The freight rate to...

Published

Nadia Popova

May 05, 2017

15:42 GMT

Moscow