CIS STEEL BILLET: Market weakens further amid lack of trade

Billet export prices in the Commonwealth of Independent States weakened further during the week to Tuesday May 25, with buyers still holding back from trading activity amid a falling Chinese import billet market.

Fastmarkets' assessment of the steel billet domestic price, ex-works Tangshan, Northern China has fallen sharply week on week to 4,940 yuan ($768.44) per tonne on Tuesday, down 600 yuan from 5,540 yuan per tonne on May 18.
Recent bids from Chinese customers were heard at a maximum of $700 per tonne cfr, which would net back to $640 per tonne fob for Black Sea cargoes.

But no CIS mills were ready to sell...

Gold and silver price ETFs see major net outflows

Gold stocks decline by less than metal price

A shift to the later stages of gold and silver bull markets

Gold stocks plunge on metal drop

Gold stocks still up after pullback late in the week