GLOBAL BILLET WRAP: Prices slide on downturn in scrap costs

The price of steel billet fell in most regions during the week ended Friday January 24, due to the continuing slide in ferrous scrap prices in Turkey.

The downturn in Turkish deep-sea scrap import prices hit scrap prices in other regions and resulted in a further fall in billet prices.
A steel mill in the Iskenderun region booked a UK cargo comprising 22,000 tonnes of HMS 1&2 (80:20) at $277 per tonne cfr late on January 22, sending the daily scrap indices down by $6.45 per tonne on January 23.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $274.25 per tonne on January 24, down from $280.70 per tonne on January 17.
In addition, renewed sanctions imposed by the United States against major Iranian steelmakers have continued to affect the trade of billet from the Middle Eastern country.
Commonwealth of Independent States

Trading activity in the CIS export market was moderate in the week to January 24, but buyers...

Published

Serife Durmus

January 27, 2020

13:25 GMT

Bursa