The CIS export billet price picked up at the end of the week on a booking to Turkey, market participants said.
Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $380 per tonne on Friday November 15, up by $5 day-on-day.Russia's Abinsk Electric Steel Mill sold a cargo of billet to Turkey this week at $393 per tonne cfr, sources told Fastmarkets. According to various assessments, this would be equivalent to $378-382 per tonne fob Black Sea.Turkish customers accepted the higher prices amid rising import scrap costs.Fastmarkets' daily index for steel scrap,...