CIS STEEL BILLET: Market softens again on weak fundamentals

CIS export billet prices continued to slide on Wednesday January 22 under pressure from a weakening finished long steel market and consequently lower bids for semi-finished steel, as well as expectations of more price drops on scrap in the near term.

Some CIS-region producers indicated their readiness to sell billet at $405-408 per tonne fob Black Sea, while at the beginning of the week they had been asking $410-415 per tonne fob.

But even the newly reduced prices were considered too high by market...


Vlada Novokreshchenova

January 22, 2020

19:15 GMT