It is reported that the pricing trends for billets and long products was mixed this week.
A positive dynamics of billet and rebar at the very beginning of the week has turned to price decline by weekend, while wire rod is more stable.
However, it is evident that billet price is facing correction.
Although billet prices have gone up by USD 5 per tonne to USD 10 per tonne as compared to previous week closing, but signs of weakening started appearing in last few days of week.
As per reports, due to lack of demand, sellers rolled back their offers by USD 5 per tonne to 10 per tonne.
Further development of the situation is not clear yet.
( Source: www.steelguru.com )