Scrap and semi-finished steel price levels may push up buying activity

After a difficult and sometimes critical situation, over the last three weeks of winter, the price levels for scrap metal and billets fell by $ 30 per tonne and $ 15-20 per tonne, respectively, and are close to the bottom.

Although recent rebar and semi-finished deals between firms in the United Arab Emirates (UAE) and Turkish factories were still at low price levels, this was the first sign of increasing buying interest. Ultimately, this should lead to the fact that the price will go up with warming weather and the onset of the season of traditional activity in the metal market.

There is information that the price levels of scrap metal have bottomed out at $ 345-350 per tonne, while billet from the Black Sea has already touched a low point at $ 485-490 per tonne.

Undoubtedly, buyers in the UAE were able to get a good price for rebar due to the low level of scrap prices. The most recent deals were reported at $ 565 per tonne CFR. Likewise, with regard to the procurement for the Turkish factories, which opened purchases by concluding a deal at $ 485-490 per tonne FOB Black.

Seaports are expected to expand traffic in the coming days as spring is coming and buying activity is better, especially at low prices, in the face of increased construction activity in the spring and summer, which in turn should lead to an increase the level of prices for billets and scrap metal.