CIS STEEL BILLET: Prices up on higher scrap costs despite low demand

Prices in the CIS export market for steel billet picked up in the week to Friday September 4 despite the lack of trading activity. Higher scrap prices seen in recent import transactions in Turkey, together with a reduced number of billet offers from CIS mills, supported the market.

Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was up by $4 per tonne day on day to $408 per tonne on September 4.
Demand for import billet in the major outlets - such as North Africa, the Middle East and Asia - has been limited this week, with customers referring to the lack of support from the finished steel sector.

Over the past week, only one cargo of 40,000 tonnes of Russian billet was heard...

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