Black Sea billet market takes a hit from Turkish scrap nosedive

摘要

The steep fall in Turkish premium scrap import prices this week put Black Sea market under significant pressure, with downward price adjustments looking inevitable, sources said on Tuesday. As deepsea scrap prices to Turkey have fallen $17/mt in the first two days of the week, the achievable prices for billet nosedived, according to traders. CIS suppliers seemed to take a breather on Tuesday and no immediate widespread offer reduction was reported, but some lower offers, at $380/mt FOB Black Sea, were being rumored.