Uncanny slump in scrap levels on poor buying by Turkish mills has made dent in the billet prices off late.
It is reported that some medium size mills in Ukraine are yet open for January booking. They have revised their offers by at least USD 5 per tonne sending quivers.
Dip in scrap offers to Turkey by USD 5 per tonne to USD 10 per tonne during the last week has back lashed.
Notwithstanding dips other mills are reportedly maintaining stable offers at USD 505 per tonne to USD 510 per tonne FOB Black Sea owing to port bottlenecks and supply shortage during winter.
Source:
http://www.steelguru.com/russian_news/Weakness_seeps_in_CIS_billet_price_on_decline_in_scrap_levels/294999.html
