CIS STEEL BILLET: Prices fall again on weakening fundamentals

Export prices for CIS-origin steel billet from the Black Sea basin continued to decrease in the week to Wednesday August 18 amid bearish sentiment in the major outlet markets.

After concluding several sales to customers in Latin America late last week, mills in the Commonwealth of Independent States had covered the demand in this market, which appeared to be the highest-paying at the moment.
Other markets failed to provide sufficient support for CIS mills that were under pressure from falling raw materials costs and weak demand for finished products. In Turkey in particular, import scrap prices continued to trend downward.

Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey,...

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