CIS STEEL BILLET: Offers rise despite some cooling in China market

Export billet prices from the Commonwealth of Independent States (CIS) continued to increase on Thursday April 8 on support from growing offers from some major suppliers amid rising scrap costs as well as a supportive Chinese market.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $428.42 per tonne, down by $0.43 per tonne day on day and up by $11.48 per tonne week on week.
Market participants reported minimum billet offers from the Black Sea basin coming in at $590 per tonne fob up to $600 per tonne fob, while on Wednesday offers at $585-590 per tonne fob were available.

Several market participants reported a cargo of 50,000 tonnes of Ukraine-origin billet with increased manganese content had been sold to China at $645-650 per tonne cfr earlier in...

Published

Vlada Novokreshchenova

April 08, 2021

16:25 GMT

Dnipro