TURKEY STEEL BILLET: Falling scrap costs, weak demand drag down billet prices

摘要

Turkish prices for steel billet have gone down over the past week in line with the falling prices in China, while scrap import values supported the decrease, market sources said on Thursday May 27. Steel billet prices in China have made a downward correction in the past week, which consequently brought a decline in Turkish scrap import prices, because Turkey’s billet and finished steel prices had been recently supported by demand in Asia. Fastmarkets’ latest weekly price assessment for steel billet, import, cfr China, was $700-720 per tonne on May 21, down from $770-800 per tonne a week earlier.