The CIS export billet market was rather quiet in the week ended Monday March 11. Producers preferred to stay back from the market and assess the situation, indicating offers within the range of $460-465 per tonne fob Black Sea.
Meanwhile, customers showed little interest in imported billet because they considered the offer prices to be too high, and could not relay those costs to buyers of finished steel in the domestic and export markets.In such conditions, there were no firm bids in the market. Recent indications were heard around $450 per tonne fob from traders,...