CIS STEEL BILLET: Price keeps rising; trade quiet on offer-bid mismatch

Offer prices for steel billet exported from the Commonwealth of Independent States (CIS) moved upward again on Friday November 20 amid higher costs for steelmaking raw materials, particularly scrap, and rising long steel prices, with the mismatch between offers and bids restraining trading, Fastmarkets heard.

Offers for steel billet from Russian and Ukrainian mills were heard within the range of $465-480 per tonne fob on Friday, up from $430-440 per tonne fob in the second half of the week before.
Billet buyers were unable to keep pace with the current offer prices, sources said.
"The market is crazy this week, every day we get higher offers [from mills]," one trader said.

Fastmarkets' daily steel billet index,...

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