CIS STEEL BILLET: Trading quiet on offer-bid mismatch

The CIS export billet market was largely quiet in the week to Friday October 16 due to a mismatch between sellers’ and customers’ price expectations.

Offers of CIS-origin billet were heard mainly within the range of $410-415 per tonne fob Black Sea, but some suppliers were seeking even higher numbers, according to market participants’ reports.
Meanwhile, customers’ prices ideas rarely exceeded $400 per tonne fob in the majority of destinations, because of a lack of demand for finished long steel products and uncertainty about the future price trend.
Domestic billet prices in Turkey slipped over the week due to the downturn in scrap costs.
Fastmarkets’ weekly price assessment for steel billet, domestic, exw Turkey, was $410-415 per tonne on Thursday, down from $413-420 per tonne week on week.

Market sources...


Vlada Novokreshchenova

October 16, 2020

16:15 GMT