Offer prices for steel billet originating in the Commonwealth of Independent States continued to move up due to surging scrap costs and tight supply, while trading was quiet this week on offer-bid disparity, sources told Fastmarkets on Tuesday December 15.
Offers for steel billet for February shipment from some Russian mills were heard within the range of $560-580 per tonne fob on Tuesday, with some mills heard targeting $600 per tonne fob levels.In the meantime, buyers were struggling to keep up with skyrocketing...