CIS STEEL BILLET: Mills look for support beyond nearer markets

Billet producers in the Commonwealth of Independent States selling material from the Black Sea basin continued to look for support outside nearer markets because buying activity there was limited by unfavorable market conditions.

“Turkish customers practically give no bids,” one trading source said, adding that softening scrap prices led to the negative sentiment in Turkish market.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $423.27 per tonne on Friday April 16, down by $0.02 day on day.
“The domestic market is not good in Turkey because of Ramadan [April 13-May 12],” a local re-rolling source told Fastmarkets.

“Import activities are limited,”...


Vlada Novokreshchenova

April 16, 2021

15:29 GMT