After 6 weeks of hectic activity, billet market seems to have stabilized this week as their prices rolled down a little bit but kept the levels in general.
The sellers’ idea of price is closer to USD 625 per tonne to USD 640 per tonne with buyers looking at USD 600 per tonne to 620 per tonne. Generally we understood that the market is around USD 610 per tonne to USD 630 per tonne.
It is reported that the buying was quite limited in terms of quantities and May volumes are not fully allocated yet.
Unconfirmed reports also pointed out that scrap prices in te region have started to cool down a bit.