GLOBAL BILLET WRAP: Prices continue increasing, buying slows with most mills are booked

Prices in the major global markets for steel billet continued to rise during the week ended Friday December 6, but buying was slower than the previous week because most mills were fully booked.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $278.98 per tonne on December 6 compared with $266.08 per tonne on November 29.
“Suppliers have already started to talk about $290 per tonne and above for US-origin HMS 1&2 (80:20). But mills are still struggling to reflect the [higher scrap costs] in their rebar prices,” a Turkish mill source told Fastmarkets.
CIS, Turkey, Middle East-North Africa
Suppliers in the Commonwealth of Independent States have continued to increase their offers due to the strengthening scrap values.
Offers were heard in the market in the range of $395-400 per tonne fob Black Sea early in the week. Deals were concluded from Ukraine at $400 per tonne fob Black Sea later in the week to North Africa and Latin America.

In Turkey, CIS-origin billet was available at $410-415...

Published

Serife Durmus

December 09, 2019

00:01 GMT

Bursa