GLOBAL BILLET WRAP: Prices hold steady amid bearish scrap outlook

Steel billet prices in most major markets around the world were mostly stable in the week to Friday January 10, amid steady prices in the upstream ferrous scrap market.

Nonetheless, some billet trades were reported amid bearish sentiment about scrap prices in the bellwether Turkish import market.
Turkish mills held off from booking any scrap cargoes due to weak demand for long steel products.
CIS, Turkey, Egypt
Trading activity in the CIS billet export market experienced an uptick after most market participants returned from the New Year holiday.
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $409 per tonne on January 10, down by $1 per tonne from $410 per tonne on January 3.
One 10,000-tonne cargo of Russian billet was sold to Algeria at $435 per tonne cfr, equivalent to about $410 per tonne fob Black Sea, but the market still lacked clarity because some suppliers had yet to announce new offer prices and most customers continued to hold back from making any bookings.

Producers who had returned...

Published

Lee Ken Kiat

January 13, 2020

09:28 GMT

Singapore