CIS STEEL BILLET: Market weakens further amid lower scrap costs, lack of demand

Lower scrap costs in Turkey, along with a lack of demand for semi-finished steel, were the major reasons for falling billet export prices in the Commonwealth of Independent States on Tuesday February 9, sources told Fastmarkets.

Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was calculated at $527 per tonne on Tuesday, down from $538 per tonne on Monday.
Several market sources indicated prices for CIS-origin billet around $525-540 per tonne fob Black Sea.
One trader disagreed with the top end of the indicated range, arguing that no market is ready to pay $530-540 per tonne fob for billet today.

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