CIS STEEL BILLET: Mills maintain offers despite limited demand, growing freight cost

Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.

Customers in Asia, particularly China, were not willing to pay above $700 per tonne cfr early in the week, which would be equivalent to $640 per tonne fob Black Sea. No deal were concluded at this price because it was considered too low by mills selling from Black Sea basin.
By the end of the week, Chinese billet buyers went silent following a sharp price drop in the domestic market.

Fastmarkets’ daily assessment for steel...


Vlada Novokreshchenova

June 17, 2021

16:24 GMT