CIS STEEL BILLET: Sentiment improves on higher bids from China

Sentiment in the CIS export market for steel billet improved over the weekend of May 30-31 with higher bids heard from customers in China.

The increased cost of iron ore, together with an upswing in the East Asian country’s domestic rebar market and production cuts planned in Tangshan province, supported interest in imported billet.

Fastmarkets’ daily index for iron ore 62% Fe fines, cfr Qingdao, was $100.45 per tonne on June 1, down by $1.94 per tonne day on day but up by $5.17 per tonne week on week.
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Published

Vlada Novokreshchenova

June 01, 2020

17:52 GMT

Dnepr