CIS STEEL BILLET: Mills seek support in Mediterranean basin due to weak Asian market

A weakening import billet market in Asia, particularly China - which has been one of the main destinations for CIS-origin material this year - has forced CIS mills to seek support in nearer markets.

Interest in import billet dropped sharply in China over the past ten days following a crash in rebar futures prices due to lower demand for long steel products in the country.
In such conditions, traders that earlier booked import billet cargoes for the Chinese market started to offer this material to the wider Asian region.


Vlada Novokreshchenova

October 27, 2021

16:49 GMT