CIS STEEL BILLET: Mills raise offers on higher scrap costs, but buying still limited

Offers of steel billet to foreign customers from the Commonwealth of Independent States (CIS) region had gone up by the end of this week following the continuing uptrend in the scrap sector, Fastmarkets heard on Friday August 7.

But trading activity was limited, even though some customers accepted the higher prices.
Fastmarkets' steel billet index, export, fob Black Sea, CIS, was $404 per tonne on August 7, up by $5 per tonne day on day.
Recent offers of CIS-origin billet were heard at $410 per tonne fob, against $400-405 per tonne earlier in the week, because of increased scrap costs.

Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $277.73 per tonne on Friday, up by...

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