CIS STEEL BILLET: Offer-bid disparity leaves market at standstill

The standstill in the CIS export market for steel billet has continued on a disparity between offers and bids, sources told Fastmarkets on Thursday October 1.

Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $409 per tonne on Thursday, up by $1 per tonne day on day, but stable week on week.
Offers from producers varied within the range of $410-420 per tonne fob Black Sea. Sellers were firm, citing tight availability of billet because of maintenance work at some major mills.
According to market sources, producers were sold out for October rolling.

But the offers prices shown above were considered unworkable by buyers. In particular, fresh bids from Turkish customers were heard within the range of $415-420 per...

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