CIS Steel Billet Price Levels Remain Solid Amid Continuing Turkish Interest

Black Sea billet price levels rose by $ 10-15 per tonne in April, showing encouraging signs after a long stagnation. First of all, this situation is due to active purchases of Turkish factories in an effort to suppress the soaring level of prices for scrap metal.

Scrap steel price levels have climbed $ 40- $ 45 per tonne over the past six weeks. At present, purchases of steel billets have increased. And it seems that metallurgists are considering swapping scrap for billets, as the conversion gap has narrowed and factories find it profitable to use billets instead of scrap.

Turkish buyers retained their reservation for LPG stocks for May shipments. The deals were registered at the level of 530-535 dollars per ton CFR. Scrap steel price levels have been gaining momentum since the end of March. The lira's pricing policy allowed imports to compete with domestic products at levels of 540-545 per tonne EXW excluding 18 percent VAT.

However, with the decline in the internal purchasing power of the nation, which is experiencing the problem of choice, led to a failure in activity, providing an instant pause in the shopping process, but this period has already ended. Therefore, a new phase has begun, which ensures the stability of the price level of the Black Sea steel billets. Elsewhere, including the UAE, market prices have remained stable as construction activity picks up in the summer ahead.