The export market for steel billet from the Commonwealth of Independent States (CIS) was largely quiet on the disparity between offers and bids, with prices under pressure from falling scrap costs, sources told Fastmarkets on Friday January 15.
CIS export billet prices have lost their upward momentum, affected by a recent drop in international scrap markets as well as lower bids from customers, sources said.Notably, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $455.33 per tonne...