The state enterprise Ukrpromvneshexpertisa forecasts that in October square billet price FOB Black Sea will drop by 1.6% MoM, or by $5 per ton to $310-315 per ton.
According to the company analytics department expert Oleg Gnitetsky, this drop will be caused by the demand decrease on Turkish market, where the main factor is always the scrap price drop. Moreover, September saw a lot of Chinese offers.
Square billet price decrease on Chinese market will also influence Black Sea prices drop. Another influence will come from the scrap price drop at European and US markets. (Ukrainian metal)
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