European square billet price is likely to decrease again in line with dropping scrap price due to very low demand, according to market participants.
Current selling price of H1 & H2 (70:30) mixed scrap is CFR Turkey US$218/ton which is lower than anticipation. Besides, the Turkish export price of square billet of last week was FOB Turkey US$390~$410/ton but it’s said that one of Turkish mills even quoted FOR US$378/ton.
Moreover, CIS quoted FOB US$375~390/ton for square billet last week. Source: Yieh.com