Daily Steel News - 3 Apr 09

Global billet prices up
Global billet prices have increased by US$60/ton to US$400/ton, but the slab market was still sluggish. On the other side, slab prices are being prevailing at US$340 to 360/ton in the market, continuing its downward trend amid low demand. Rising billet prices are supported by increasing demand. Actually, many countries have initialed some package to stimulate economic by pushing domestic demand. Therefore, the demand for construction steel has rebounded.