Prices in Southeast Asia's steel billet market fell to their lowest level since June 2017 on Thursday September 5, in response to plunging ferrous scrap prices in the bellwether Turkish market.
Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $250.21 per tonne on September 4, its lowest since February 2017. The index was down by $12.30 per tonne day on day from $262.51 per tonne on September 3. Scrap prices in Southeast Asia also slumped to their lowest levels since August 2018 on Wednesday.The decline in scrap prices adds to the list of factors weighing on...