Wednesday, May 25,
Black Sea region billet prices rose this week as some key buyers in North Africa and the Middle East came back to the market.*
Black Sea billet was sold at $640-650/MT free-on-board (FOB) Russia and Ukraine, from $620-645/MT (FOB) a week ago, traders said.
Demand for steel long products is slowly picking up in North Africa and the Middle East, after political unrest in the last few months depressed investment in construction, the main steel long product consuming sector.
“During the political unrest in middle east region and the nuclear crisis in Japan, buying activity slowed down and stocks reached very low levels. But now buyers are back in the market, said a source at a second steelmaker.
Source: Reuters
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