Trading activity in the Commonwealth of Independent States' export billet market switched to China in early May, while other outlets remained quiet due to the religious holidays in the Middle East, Africa and part of Asia as well as the effects of the Covid-19 pandemic.
A 40,000-tonne cargo of Russian billet was reported sold to China through a trader at slightly below $370 per tonne cfr, equivalent to $335 per tonne fob Black Sea.Several market participants said another CIS-origin cargo with similar tonnage was sold at $370 per tonne cfr to China, but information about the deal could not be widely...