CIS
The recovery in scrap prices fueled positive sentiment in the CIS export billet market, but many customers preferred to adopt a wait-and-see approach and did not place any bids.
CIS offers rose by $5 per tonne late in the week, compared with previous prices, to $395-400 per tonne fob.
But there were no significant bookings, with the lack of sales of long steel in many buying regions making customers cautious about buying the semi-finished material.
Market participants said that workable prices for CIS-origin billet were no higher than $385 per tonne FOB the Black Sea.
