Amid declining scrap quotations and downward pressure from weak demand, import billet offers to the United Arab Emirates (UAE) have moved down from last week’s levels of $458-460/mt CFR.
SteelOrbis has been informed that a trader has offered billet to the UAE market at $448/mt CFR, with the billet in question to be shipped from Turkey, Ukraine or Russia. However, UAE-based buyers’ price ideas for actual purchases are at $440/mt CFR.