The steel industry gained momentum as China returned to the market after the Lunar New Year holiday. Billet prices have increased along with the rising scrap prices.
China/Tangshan billet increased by $4/ton to $578/t.
Payas delivery Iranian billet amounted $610 level.
Billet price offers from Russia are in the range of $610-620.
When we evaluate the Turkish domestic billet market, Istanbul billet prices are trading at $660, while in the Payas region prices are in the range of $650-670.
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