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Kallanish Steel Weekly: Billet prices recover as raw materials sentiment strengthens

Kallanish Steel Weekly: Billet prices recover as raw materials sentiment strengthens (Dec. 5, 2017)

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Billet prices in the Black Sea region have changed direction since the beginning of November, as raw materials pricing sentiment strengthened during the last few weeks. The benchmark for billet exported out of the Black Sea fell by $60/tonne in two months since mid-September, but returned at $480/t fob last week, after it reaching the bottom of the current cycle at the beginning of the November at $460/t fob.

The upward momentum is expected to continue further in the coming weeks, as traders are predicting that billet prices will reach $500/t fob Black Sea by mid-December.

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