Sentiment in the CIS steel billet export market has cooled this week because buying activity has not bounced back as expected after last week's Ramadan and eid holidays.
Some CIS mills were trying to push through higher prices, following reports of several CIS-origin cargoes being sold at $515-520 per tonne fob Black Sea last week, with higher scrap values in Turkey leading to a global uptick in that market. However, the CIS billet price increases have not been widely accepted yet.Recent offers of CIS-origin billet were heard at $515-525 per tonne fob Black Sea.Offers from Russia's Abinsk Electric Steel Works were reported at $520 per tonne fob Black Sea.The material from Ukraine's...