Turkey was the only market accepting higher export steel billet offers from the Commonwealth of Independent States, while trading activity at other destinations remained quiet in the week to Thursday November 26 due to a difference between mills' offers and customers' bids.
The majority of mills continued to insist on offers within the range of $480-500 per tonne fob Black Sea this week, according to market sources. Some producers were said to be targeting even higher offers of $505-510 per tonne fob. But only customers in Turkey were ready to accept the higher billet prices from the CIS.A booking of about 25,000 Ukraine-origin billet cargo for January shipment was done at $485 per tonne cfr to Turkey late last week, which would net back to...