CIS billet prices decline in sales amid limited demand, downbeat sentiment

The Commonwealth of Independent States' (CIS) billet export price declined on Friday November 5 amid limited buying interest; most producers continued to hold back from trading.

Trading activity remained limited in the Black Sea basin this week amid bearish sentiment.
Softening scrap and long steel prices in Turkey, one of the key buyers of CIS billet, has made buyers cautious.
"The steel market is slow in Turkey, while the recent rebound of scrap prices is sending mixed signals. So buyers prefer to wait," a Turkish trader said.

The latest...

Bank of Japan boosts rates, continuing an unwinding carry trade

Gold stocks outperform equity market slide

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue