The CIS export billet price dropped sharply on Friday November 23 after a Russian billet cargo was reported sold to Southeast Asia at a lower price than other recent deals.
Fastmarkets' daily CIS billet index was $446 per tonne fob Black Sea on November 23, down by $7 per tonne day on day.Around 25,000 tonnes of billet from Russia's Abinsk Electic Steel Works was sold to traders to be resold to Southeast Asia at $443-444 per tonne fob Black Sea.The market in Southeast Asia has softened over the past...