The export billet price from the Commonwealth of Independent States strengthened on Wednesday September 29 with a fresh Black Sea cargo reported sold to China.
A 40,000-tonne lot of Ukraine-origin billet was sold to China at $705 per tonne cfr on Wednesday, a source on the seller side told Fastmarkets. Market participants estimate that the price nets back to $600-605 per tonne fob Black Sea, considering the current freight cost to China of minimum $100 per tonne.