The prices of billets in the
Middle East have continued their downturn slide, slipping briefly last week to
the $600 per ton mark in CIS Black Sea FOB deliveries, before settling back at
an average $615.
Market players differ as to
whether prices have hit bottom. Some market participants are expecting that
prices are likely to fall a little further in line with falling scrap prices
and be replicated in Turkish exports before they're pushed up again by renewed
demand, which has been withheld by buyers who want to find prices hitting
bottom before they make their bookings.
Meanwhile, iron ore this week has
reportedly hit its lowest level for this year to be offered at an average $160
per dry metric ton.
Leave a Reply