CIS STEEL BILLET: Trading activity revives after quiet week

Trading activity in the CIS export market for steel billet had revived by the end of the week to Thursday March 4, although it started relatively quietly amid a lack of certainty in the raw materials and finished long steel sectors in customers’ markets, particularly in Turkey.

“Turkish customers did not place many bids [for billet imports] because rebar and merchant bar sales in their domestic and export markets are not very active, and prices have not improved. And there is a problem with export offers because of increased shipping costs,” a Turkish trader told Fastmarkets.
Freight costs have increased recently in the global market due to the uptick in oil prices and the reduced availability of vessels, sources said.
In scrap, Turkish mills refrained from bookings at the beginning of the week, preferring to concentrate on long steel sales.
New bookings of scrap cargoes were reported on Thursday.

A steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes...

Published

Vlada Novokreshchenova

March 04, 2021

17:42 GMT

Dnipro