Scrap prices in Turkey, the world’s largest importer of the steelmaking raw material, breached the psychological $300-per-tonne level
for the first time in five months last Friday December 13, though limited demand for Turkish long steel products could eventually dampen market sentiment, sources said.
CIS, Egypt, Turkey
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS
was $411 per tonne on last Friday, up $11 from $400 per tonne a week earlier.
Mills in the Commonwealth of Independent States were mostly bullish about the billet market although some sources were concerned that the higher prices could lead to increased supply
and undermine further growth amid poor demand for long steel products downstream.
Nonetheless, a majority of market participants in the CIS expect the positive mood to continue for at least the next few weeks.
Several cargoes of Russian and Ukrainian billet were sold to Turkey and Africa at...