CIS STEEL BILLET: Market awaits more clarity after long holidays, customers' mood pessimistic

January 09, 2020 / www.metalbulletin.com / Article Link

Uncertainty was weighing on the CIS export market for steel billet in the week ended Wednesday January 8, with market participants returning from their year-end holidays and waiting for mills to announce offers of February-rolling material.

At the same time, there was a degree of pessimism among many customers, because of the lack of demand for finished long steel products.
Adding to the negative sentiment, there was widespread discussion of a 10,000-tonne cargo of wire rod-grade billet sold to Algeria at $432 per tonne cfr. This price would net back to around $402 per tonne fob Black Sea, excluding a $5 per tonne extra payment for the special grade.

This deal was not...

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