CIS STEEL BILLET: Deals, offers prices rise amid costlier scrap

The continuing rebound of scrap prices in the global market supported the efforts of CIS steel billet producers to achieve higher sales prices despite the limited demand resulting from the Covid-19 pandemic, Fastmarkets heard on Tuesday April 14.

A cargo of Russia-origin billet was reported sold to Turkey late last week for around $368-369 per tonne cfr, equivalent to around $355 per tonne fob Black Sea.
"Turkish customers may turn to billet bookings now, considering the lack of available scrap in the market," one source said.

Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $252.08 per tonne on Tuesday, up from $236.81 per tonne on April 9.
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