CIS STEEL BILLET: Market turns quiet on end-Ramadan holiday, withdrawn China bids

The CIS export market for steel billet turned quiet on Thursday May 13 when buying activity in the majority of outlets faded.

Customers in the Middle East-North Africa (Mena) region, as well as in some Asian countries, left the market to celebrate the end of the Islamic holy month of Ramadan, while buyers from China withdrew bids after domestic long steel prices as well as the futures market became weaker.

Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, ex-whs Eastern China, was 5,900-5,930 yuan ($916-920) per tonne on Thursday, down by 100 yuan per...

Published

Vlada Novokreshchenova

May 13, 2021

15:23 GMT

Dnipro