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Home > MEPS Steel News - 07.11.2013

STEEL BILLET MARKET ROUNDUP FROM MEPS

In China, average provincial billet transaction values declined by 2.3 percent in October. Sales volumes of finished steel and semi-finished steel products were muted in the period following the country’s week long national holiday. Downstream demand in the Northern provinces is expected to taper off in November and December as the cold weather hampers activity in the construction sector.

The business climate has remained subdued in India. Billet transaction values, denominated in the national currency, declined in three of the five regions surveyed. For November, quotations from billet manufacturers are expected to shadow the cost of steelmaking ingredients – particularly, sponge iron, pencil ingots and ferrous scrap

CIS billet producers remain divided over the general outlook for the November-December period. Tonnages designated for overseas sales remain limited. The downward pressure witnessed in early-October was moderated by a rebound in the price of ferrous scrap in markets around the world. Quotations for material traded out of Black Sea and Caspian Sea ports are expected remain stable in the November-December period.

The trading environment remains challenging in Turkey. The domestic construction sector has failed to show any real signs of demand recovery. Re-rolling mills are reluctant to book billet material, being convinced selling figures will fall again in November. Sales of finished steel products are unlikely to recover as the approaching winter will further hinder building activity. The price premium for domestic billet material relative to imports stood to at less than $US10 per tonne.

Source: MEPS - Semi-Finished Steel Review

Also see: MEPS - Billet Price Table

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