Scrap prices in Turkey, the world’s largest importer of the steelmaking raw material, have strengthened
since plunging to a year-to-date low of $225.88 on October 1.
China, Southeast Asia
Billet prices in Southeast Asia rose amid continued competition from Chinese importers in the spot market.
A Chinese trader reportedly booked 50,000 tonnes of Qatari billet at $418-425 per tonne cfr China, and Iranian billet was offered at $405-410 per tonne cfr China.
Prices in Jiangsu province, a major entry point for imported billet, were 3,640-3,680 yuan ($518-523) per tonne exw on November 22, according to a local billet trader.
The price spread would be $34-37 per tonne between international and domestic prices after the 13% value-added tax and 2% import duty to sell the cargoes into the domestic market are taken into account.
Billet prices in Tangshan, northern China’s steelmaking hub, rose due to strong...