A lack of buying activity in the majority of sales outlets amid the outbreak of coronavirus (2019-nCoV) added to the negative sentiment.
“The active buyers are only in China now,” one trader said.
A large cargo of Russian billet was reported sold to a trader for further sale to China at $350 per tonne fob Black Sea.
The producer offered billet at $370 per tonne fob Black Sea last week, one source said, adding that it was ready to provide discounts.
“So I believe $350...