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GLOBAL BILLET WRAP: Price Trends In CIS, Turkey And THE LANGUAGE OF STEEL
May 09, 2018

GLOBAL BILLET WRAP: Price trends

CIS, Turkey 
Prices for CIS-origin billet were largely stable during the week ended April 30 amid reduced buying activity.
Metal Bulletin assessed the CIS export billet price at $509 per tonne, fob Black Sea, on April 30, a minor $1 reduction from last week’s range.
Mills and traders took a wait-and-see approach, after selling large quantities of billet in the preceding week.
Traders expect price decreases in the near term, although mills were more optimistic, with some already offering at higher prices.
Most mills offered billet at $510-515 per tonne fob Black Sea, but customers are willing to pay only $500-505 per tonne fob Black Sea.
The latest confirmed bookings of CIS billets were done at $505-515 per tonne fob Black Sea to Africa and Italy, as well as to traders.
In Turkey, both domestic and export prices for billet rose on strong rebar demand during the week ended May 3, while import prices were unchanged.
The domestic price for billet in Turkey was assessed at $535-540 per tonne on May 3, up by $5 on the low end from $530-540 per tonne assessed last week, while the export price for Turkish billet narrowed upward to $540-545 per tonne, fob main port, on May 3 from $530-540 per tonne on April 26.
A weakening lira against the US dollar supported the recovery in Turkey’s domestic rebar and wire rod prices, and billet suppliers subsequently raised their prices too.
But demand for billet imports from the CIS region was sluggish, keeping Turkish import prices stable.
CIS offers heard in Turkey remained at $525-535 per tonne cfr, while Turkish buyers were bidding $520 per tonne cfr.

THE LANGUAGE OF STEEL

Basic oxygen steelmaking

Making steel through oxidation by injecting oxygen through a lance above a molten mixture of pig iron and scrap steel.

Bessemer process

A process for making steel by blowing air into molten pig iron through the bottom of a converter.





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