The export price for steel billet from the Commonwealth of Independent States (CIS) has surged toward the end of this week, spurred by rising offer prices after most mills filled their February order books with large sales in previous weeks, Fastmarkets heard on Thursday January 24.
The recovery in import scrap prices in Turkey has also added to the positive sentiment among CIS suppliers.Offers of CIS-origin billet, mainly from Russia, were now within the range of $420-425 per tonne fob Black Sea, up from $405-410 per tonne fob a week earlier.Some producers even managed to achieve sales at higher prices, which supported the improvement in...