Buying activity in most of the export outlets for CIS billet remained quiet at the beginning of December, with customers still getting over the shock caused by the sharp drop in Chinese billet prices last week.
Besides that, customers in Egypt, one of the major outlets for CIS billet, were cautious because of the possible introduction by the Middle Eastern country of safeguard measures against steel imports in the near term. The duty rate under discussion is 10%.In these market conditions, CIS...