Wednesday, March 16,
Black Sea billet prices were little changed this week as worries about political unrest in North Africa and the Middle weighed on demand at the same time when supply was tight, traders said..*
Black Sea free-on-board (fob) billet was sold at $620-630/MT, a similar level compared with that of last week’s.
Buyers rejected offers at $640/MT, FOB from Turkish producers, traders added.
“Demand is flat. People buy hand-to-mouth if they really have to buy,” said a trader based in the UK.
“The only reason why prices are not falling is that supply is equally tight.”
Egyptian steel re-rollers have resumed operations, although at a slower pace, and are starting to place some billet price enquiries, said Turkish steelmakers.
Source: Reuters
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