Long products prices have fallen in response to weaker Chinese export prices

摘要

Regional scrap prices have fallen over the past month and in conjunction with weaker Chinese long productsexport pricing, this has exerted downwards pressure on North East Asian steel prices. Billet prices haverisen slightly over the past week but are still low enough compared to scrap for demand to remain firm. Wenow assess billet prices at $412 /t FOB, a m/m decrease of $6 /t despite price increases towards the end ofApril.