Billet prices have fallen in most regions due to low demand in Southeast Asia, Turkey and North Africa, but a slight recovery was seen in Chinese prices.
CIS, Turkey, EgyptIn the Commonwealth of Independent States, prices continued to fall this past week despite efforts from local mills to hold back the decline.Cargoes of Russian billet were sold in Thailand and Indonesia at $465 per tonne cfr early in the week, up by $5 per tonne from the previous week. The material is slated to be shipped from the country's far east region.Sparse offers had been heard at $430-435 per tonne fob Black Sea.By Friday, a shipment of 25,000 tonnes was heard sold to Egypt at around $445-450 per tonne cfr, or $420-425 per tonne fob Black Sea.In Egypt, buyers were waiting to see if a new import duty would be imposed on imports of billet and other steel products.Bids from Turkish customers were even lower at $415-420 per tonne fob Black Sea, equivalent to $430-435 per tonne cfr, but no bookings were heard yet at such a level.Offers...