CIS export billet prices softened slightly in the middle of this week with negative sentiment starting to spread due to the return of Chinese suppliers to export markets as well as rumors of possible tariffs on billet imports into Egypt in the near term.
"The case has been raised, but the officials responsible for a study have not made any comment yet," an Egyptian source told Fastmarkets on Thursday November 15.The rumor raised concerns among market participants that the duty will have a negative effect on the prices and volumes of billet supplied by CIS sellers to...