The recovery of demand for imports of steel billet into China that started last week, and pushed up the prices in the wider Asian region, has played to the advantage of CIS exporters.
CIS mills were already almost sold out for December-shipment volumes and were now hoping for higher prices for January-shipment cargoes. Late last week, billet from the CIS region was available within the range of $420-425 per tonne fob Black Sea."Considering the price that Chinese customers are ready to pay us now, the fob Black Sea equivalent should be no...