CIS STEEL BILLET: Recent bookings slow price drop, but sentiment still negative

Recent bookings of CIS-origin billet by customers in North Africa and by traders have helped to slow the downward trend seen in pricing in the week ended January 31.

Nevertheless, market sentiment remained negative amid falling international prices for ferrous scrap as well as low demand for finished long steel products.
Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $393 per tonne on Monday February 3, down by $1 day on day.
A 20,000-tonnes cargo of premium and wire rod-grade billet from Ukraine was reported sold to Algeria at $418.50 per tonne cfr, sources have told Fastmarkets.

Most market participants, including a source on the buyers' side, estimated the equivalent fob-basis price at $392-393 per tonne fob...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals