CIS STEEL BILLET: Prices fall in quiet market

CIS export billet prices fell during the week to Friday July 3, pressured by lower bids from customers amid insufficient demand, sources told Fastmarkets.

Most mills took a wait-and-see position, preferring to assess the situation in the market, while those who offered indicated prices at around $370 per tonne fob Black Sea or the equivalent. This is down from $370-375 per tonne fob last week.
"Mills are negotiating under the table and are not disclosing the outcome now," a trading source said.
Another source said that CIS mills were in no hurry to sell new allocations.
Meanwhile, customers were bidding at lower levels.

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