CIS STEEL BILLET: Prices keep climbing as Turkey, China accept higher levels

Prices in the CIS export billet market continued to rise in the second half of the week as customers from Turkey and China accepted higher levels in fresh deals.

There was a revival in interest in imported billet in Turkey after the recent uptick in imported scrap costs.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $488.83 per tonne on Friday, up by $9.77 per tonne day on day and up by $40.36 week on week.
Finished long steel prices in Turkey have also seen a sharp increase over the week, following China’s decision to remove its export tax rebate on certain steel products, including rebar.

“As a result [of the export tax rebate cancellation in China], it most probably will not be exporting in the near...

Published

Vlada Novokreshchenova

May 07, 2021

15:54 GMT

Dnipro