CIS STEEL BILLET: Prices keep sliding; demand mainly seen in China

Prices in the export billet market in the Commonwealth of Independent States continued to weaken in the week to Friday March 27 on declining scrap prices in Turkey and a lack of demand.

Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $340 per tonne, down by $1 from $341 per tonne on Thursday, and by $13 per tonne week on week.
The majority of traditional outlets for CIS billet were inactive this week amid lockdowns in some parts of the world, and protective measures imposed by governments in others amid the Covid-19 pandemic.

Offers for billet from CIS mills dropped to $345-350 per tonne this week from $360-370 per tonne fob Black Sea a week earlier. But the lower prices failed to spark interest from customers as re-rollers in most outlets have reduced operations due...

Published

Vlada Novokreshchenova

March 27, 2020

18:03 GMT

Dnepr