Prices in the Commonwealth of Independent (CIS) export billet market slumped on Thursday March 19 following the sharp drop in import steel scrap prices in Turkey a day earlier.
Russia's Abinsk Electric Steel Works offered billet at $360-365 per tonne fob Black Sea, against $390-392 pertonne heard earlier in the week, while other CIS-based mills adopted a 'wait-and-see' mode.A source on the traders' side said that if they...