Global billet prices increase further

Mainly due to the ongoing upward movement of global scrap prices this week, ex-CIS and Chinese billet offers to the export markets have increased further.
 
During the past week, ex-CIS billet prices to the export markets have increased by $30/mt on average to $380-395/mt FOB, while Chinese billet offers to the same destination have on average risen by $20/mt to the range of $350-360/mt FOB.
 
Global long steel prices have moved upwards today, April 15, against the backdrop of the rises seen in international billet quotations. Additionally, the increases seen in billet prices have not been reflected in all steel quotations yet. Accordingly, finished steel prices are expected to continue their upward movement in the coming week.