The export price for CIS-origin steel billet rose by 1.16% day on day on Friday May 21 after sellers switched to nearer markets such as Africa and Turkey in the absence of Chinese customers.
Interest for imported billet in China remained non-existent amid falling semi-finished and finished long steel prices domestically. This diminishing demand had caused the billet price to fall in every pricing session this week from $720 per tonne on May 17.The steel reinforcing bar (rebar) domestic price, ex-whs Eastern China was 5,100-5,150 yuan ($793-800) per tonne...