Export billet prices from the Commonwealth of Independent States increased toward the end of the week after several bookings done at higher prices came to light, sources told Fastmarkets.
The Middle East-North Africa (Mena) region including Turkey and the Gulf Cooperation Council (GCC) were not present in the market in the week to Thursday July 22 due to celebrations for the Eid Al-Adha Islamic religious holiday. Demand came mainly from China and Latin America.Early in the week, a 40,000-50,000 tonne cargo of Russia-origin billet was sold to China from Far East ports of the country at $725 per tonne cfr, equivalent...