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GLOBAL BILLET WRAP: Price Trends In Middle East, North Africa And THE LANGUAGE OF STEEL
May 10, 2018

GLOBAL BILLET WRAP: Price trends

Middle East, North Africa 
Import prices for
 
billet and domestic rebar prices in the United Arab Emirates fell amid poor demand during the week ended May 1.Iran offered billet to the UAE at $520 per tonne cfr, but one buyer was bidding only $495 per tonne cfr.
“Billet prices are very unstable,” a source from the buyer said.
As for Iran, billet export prices decreased during the week ended May 2, with customers targeting lower prices because of unstable conditions in the global billet market.Recent bookings of Iranian billet were reported at $500 per tonne fob to the Gulf Co-operation Council (GCC) countries and Africa.
Iranian mill offers remained largely unchanged within $500-505 per tonne fob, but bids did not exceed $480 per tonne fob.
Iran’s offers were heard in Indonesia at $530-535 per tonne cfr, sources in Southeast Asia said.
In Egypt, 
billet import prices increased slightly during the week ended May 3, while local rebar prices did not change.
CIS-origin billet was on offer in Egypt at $532-540 per tonne cfr, with a deal heard at $533 per tonne cfr.
Iranian offers to Egypt were at $525 per tonne cfr.
Egypt’s demand for rebar was weak, and no improvement is expected because market activity will decrease during Ramadan.

THE LANGUAGE OF STEEL

Billet

A semi-finished steel product with a square cross section up to 155mm x 155mm. This product is either rolled or continuously cast and is then transformed by rolling to obtain finished products like wire rod, merchant bars and other sections. The range of semi-finished products above 155 mm x 155 mm are called blooms.

Blank

Steel sheet of high dimensional precision, in simple or complex form, sometimes multi-thickness, constituting principally automobile body parts.





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