CIS STEEL BILLET: Trading slow with buyers expecting price falls

Sentiment in the CIS export steel billet market has been negatively affected by recent developments in import scrap prices in Turkey, with buyers being inactive and expecting prices to fall, sources told Fastmarkets on Thursday January 14.

Buyers had mostly prepared to adopt a wait-and-see approach, considering the recent reverse of sentiment in the Turkish import scrap market [LINK], and were expecting billet prices to go down soon.
"The market is generally quiet. Everyone is watching where scrap goes, and there is the feeling that prices should start to decline, or at least correct downward soon," one Turkey-based trader said.

Still, CIS mills kept their offers high...

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