The main drivers for the growth in global billet prices are the market expectations of a return in interest for imported semi-finished products at higher prices in China after the Chinese New Year celebrations as well as the price uptick in the raw materials segment, sources said.
On Tuesday February 23, Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey
was calculated at $434.18 per tonne, up by $5.15 per tonne day on day.
Iranian producers were no exclusion to the trend either. Several tenders were reported closed in...