Meanwhile, reduced availability of the material from both Ukraine and Russia was supporting prices.
Metal Bulletin’s weekly price assessment for CIS billet exports widened downward to $390-410 per tonne fob Black Sea on Monday, compared with the previous range of $395-410 per tonne fob.
“Sales in the Middle East-North Africa [Mena] region are catastrophic,” one trader said.
A few deals were heard concluded with customers in Egypt, though.
One cargo was reported sold by a trader at $415 per tonne cfr, according to one source.
The cost of...