Prices in the export billet market in the Commonwealth of Independent States continued to weaken in the week to Friday March 27 on declining scrap prices in Turkey and a lack of demand.
Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $340 per tonne, down by $1 from $341 per tonne on Thursday, and by $13 per tonne week on week.Offers for billet from CIS mills dropped to $345-350 per tonne this week from $360-370 per tonne fob Black Sea a week earlier. But the lower prices failed to spark interest from customers as re-rollers in most outlets have reduced operations due...