US baby billet export prices decline further
Metal Recycling News | 2012-10-05 08:58:16
The export price of baby billet in the US keeps declining by around US$20/ton to US$540~550/ton FOB in early September, driven down by a slump of US$30/long ton on US scrap prices in September.
By Paul Ploumis
WASHINGTON (Scrap Monster): The export price of baby billet in the US keeps declining by around US$20/ton to US$540~550/ton FOB in early September, driven down by a slump of US$30/long ton on US scrap prices in September.
However, most buyers expect that the scrap prices could drop further about US$40~50/long ton for October, stalling the US baby billet prices in next few weeks.
Market insiders indicate that buyers have suspended to purchase in September and wait for the price rebound.
It is estimated that the baby billet prices would go up soon in the fourth quarter of 2012 after peak season coming up for scrap in the fourth quarter.
