Prices from the Commonwealth of Independent States (CIS) and Turkey rose, but buying interest remained subdued, with customers preferring to take a cautious stance.
Scrap prices continued to recover, with Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey
, at $267.05 per tonne on February 14, up by $14.82 per tonne from $252.23 per tonne on February 7.
The recovery in scrap prices fueled positive sentiment in the CIS export billet market
, but many customers preferred to adopt a wait-and-see approach and did not place any bids.
CIS offers rose by $5 per tonne late in the week, compared with previous prices, to $395-400...