CIS export billet prices continued to slide on Wednesday January 22 under pressure from a weakening finished long steel market and consequently lower bids for semi-finished steel, as well as expectations of more price drops on scrap in the near term.
Some CIS-region producers indicated their readiness to sell billet at $405-408 per tonne fob Black Sea, while at the beginning of the week they had been asking $410-415 per tonne fob.But even the newly reduced prices were considered too high by market...