It’s reported that although the demand was not as good as expectation, the US billet prices in domestic market still has stayed in uptrend due to soaring scrap prices.
At present, the prices of square billet in the US domestic market have reached to USD 565 to USD 575 per tonne. Accordingly, the export quotes of the US billet to Taiwan have risen to USD 575 to USD 580 per tonne.
Industry sources indicated that they can’t find the reason for the rising prices since the US constriction industry has shrunk in Q4 and the demand for rebar was weak. However, the soaring scrap price has boosted the US steel mills to increase the price to reflect the material costs.
It’s known that the US and Taiwan haven’t made any deals on the billet, since the duo has disagreement on the prices.
(Sourced from YIEH.com)