Prices for steel billet exports from the Commonwealth of Independent States region continued to soften in the week to Thursday October 28 amid an unfavorable environment in the global market.
Lack of demand was one of the main reasons for the downtrend. China has been one of the main global consumers of billet imports, from the CIS in particular, but it suddenly lost interest in imported material due to a sharp drop in domestic rebar and billet prices.Given these conditions, traders that earlier booked...