Steel billet producers in the Commonwealth of Independent States (CIS) continued to concentrate on the Chinese market this week while customers in the country pay the highest prices of all while seeking large volumes, sources said.
CIS producers managed to achieve several rounds of price increases in deals this week before market sentiment in China started to ease, Fastmarkets heard.Earlier in the week one cargo of Russia-origin billet was sold to China at $395 per tonne cfr, which nets back to $367 per tonne fob Black Sea, while later in the week around 40,000 tonnes of Ukrainian billet was...