Trading activity in the CIS export billet market remained quiet in the week ended Friday March 13 despite the fact that most CIS mills have reduced their offer prices.
Offers from Russia and Ukraine were heard mainly within the range of $390-395 per tonne fob Black Sea, down by $5 per tonne week on week. One Russian producer even offered billet as low as $380 per tonne fob Black Sea, but the offer included 80% pre-payment and therefore was excluded from Fastmarkets' assessment."The situation with [the 2019-nCoV] coronavirus and the oil price drop has undermined sentiment, which...