Steel billet prices were unchanged in most global markets during the week ended Friday June 22 due to quiet trading activity, with the post-Eid al-Fitr holiday buying flurry unsustained.
Commonwealth of Independent StatesSentiment in the CIS steel billet export market cooled over the past week because buying activity failed to bounce back as expected after the Ramadan and Eid al-Fitr holidays the previous week.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 the prior week, with higher scrap values in Turkey leading to a global uptick in that market. But the CIS billet price increases have not been widely accepted yet.Recent offers for 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, and material from Ukraine's Metinvest was available at $515-520 per tonne fob Black Sea.Compatriot producer Elektrostal opened a tender early in the week, with its initial offer price at $520 per tonne fob Azov Sea - equivalent to...