Offer prices on CIS-origin steel billet to foreign customers have surged upward toward the end of this week, supported by a recovery of demand in China, Fastmarkets heard on Thursday July 9.
Chinese domestic rebar prices rose early in the week on restocking activity and a rise in futures, which resulted in a resumption of import activity in the billet sector.In such conditions, there was renewed interest in imported billet, and a 20,000-tonnes cargo of Russia-origin material, to...