Tag: Brent crude impact steel
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Weekly round-up: Billet prices firm up on rising costs amid geopolitical tensions; demand remains cautious
Black Sea billet up, but buyers resist higher CFR levels GCC prices rise sharply on energy, logistics disruptions Global billet markets continued to reflect a cost-driven uptrend, as escalating geopolitical tensions around the Middle East, particularly the Strait of Hormuz, pushed up energy, freight, and raw material costs. Brent crude surged to around $106/bbl (vs…