CIS’s billet prices have consecutively decreased in line with dropping scrap price recently.
The current CIS’s square billet price is US$375~$390/ton and Turkish is US$400~$435/ton due to weak demand and global financial crisis.
European, Turkish and Middle Eastern rolled mills and electric furnace mills still expect a reasonable billet price; they just purchase depend on demands nowadays.
Moreover, Turkish distributors’ offers of finished products are very low, it’s difficult for the re-rollers which mainly sell in Turkish domestic market to purchase billet presently, but for the mills which have export business, they have shifted their focus on Ukrainian market. Source: Yieh.com