Steel billet prices fell slightly in most regions in the week ended Friday April 5, due to sluggish trading activity, public holidays and upcoming general elections.
Billet prices in the Commonwealth of Independent States (CIS) and Turkey dipped amid thin trading volumes and falling scrap prices.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap, the feedstock for billet manufacture, was calculated at $309.67 per tonne cfr Turkey on April 4, falling from $318.09 per tonne cfr Turkey on March 28.CIS, TurkeySuppliers in the CIS reduced their prices because demand for the semi-finished long product remained soft in its export markets, on limited trading activity.Market sources said that the "workable price" was $440-445 per tonne fob Black Sea, with one deal for CIS billet to Turkey being reported at that price."Mills claim that prices should go up [but] buyers insist on lower prices," a source said. "At this moment, it is hard to tell how the prices will change."Offers from CIS mills were reported at $445-450 per tonne...