The CIS export market for steel billet has turned quiet at the end of September with a growing difference between mills' offers and customers' bids, Fastmarkets has heard.
Mills continued to insist on offers within the range of $415-420 per tonne fob Black Sea on Monday September 28, according to market sources. There was reduced availability of material due to maintenance work at some assets, as well as active trading seen in previous weeks to the Middle East market.Customers in most export outlets were in wait-and-see mode, expecting the billet price to drop in the near term on...