GLOBAL BILLET WRAP: Soft demand pushes prices down

Billet prices in most markets around the world declined after producers lowered their asking prices amid sluggish demand from buyers.

But it remains unclear if the rebound in the bellwether Turkish scrap market will provide support for billet prices because Turkish mills were unable to achieve higher prices for sales of billet and rebar. Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $287.86 per tonne on July 19, up from $282.08 on July 12. CIS, Egypt, Turkey, Gulf The export price for steel billet from the Commonwealth of Independent States (CIS) dipped after several cargoes were booked at lower prices. Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $420 per tonne on July 19 compared with $423 per tonne on July 12. Two cargoes of Ukrainian billet totaling 40,000 tonnes were sold to the Middle East and North Africa at $420 per tonne fob Black Sea. Materials from the CIS were available at $425-430 per tonne fob Black Sea. However, market...

Published

Lee Ken Kiat

July 22, 2019

00:01 GMT

Singapore