Prices for export billet from the Commonwealth of Independent States (CIS) continued trending upward at the end of the week on support from surging scrap costs, sources said on February 25.
Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $448.1 per tonne on Thursday, up by $6.67 per tonne day on day and $34.47 per tonne week on week.Under such conditions, Turkish customers were ready to accept higher imported billet prices as well,...