CIS STEEL BILLET: Mills bullish, offers cross $400/t fob mark

CIS billet producers were in a bullish mood in early December despite the slowdown in trading activity, after another round of scrap price increases last week spurred them to increase offers.

Billet offers from CIS mills surged to $395-405 per tonne fob Black Sea in the first week of December, against $385-395 per tonne fob a week earlier.
"CIS mills pushed their prices higher on the back of higher scrap bookings," one trader said.

Fastmarkets' daily index for steel scrap, HMS 1&2...

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