The CIS export price for steel billet continued to move upward at the start of the week beginning on Monday February 4, with mills pushing offers higher amid a global rise in raw materials prices.
Offers of March-rolling billet from Russian and Ukrainian mills were heard within the range of $435-440 per tonne fob Black Sea, up from 430-440 per tonne fob at the end of last week.The rise in global scrap and iron ore prices was the major supporting factor.Scrap prices surged on tight...