CIS STEEL BILLET: Lower bids, lack of demand drag prices down

Export billet prices from the Commonwealth of Independent States (CIS) declined by the end of the week amid lower bids from the Asian market, which has been the main outlet for CIS material lately, sources told Fastmarkets on June 19.

CIS mills kept offers largely unchanged over the week amid reduced availability of July-rolling material after some mills already started August sales, sources said - therefore, prices were reported within the range of $378-385 per tonne fob Black Sea.
Activity in the Asian region declined somewhat, however, amid a lack of Chinese buying and, as a consequence, Southeast Asian buying, which resulted in lower bids, sources said.

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