CIS STEEL BILLET: Mills hike offers despite the lack of inquiries

Billet producers from the Commonwealth of Independent States increased offers for foreign customers this week despite the lack of inquiries from typical customers.

Early in the week, market participants reported offers within the range of $650-660 per tonne fob Black Sea, but by the end of the week those had increased to $660-665 per tonne fob, while some producers mentioned even $670 per tonne fob.
Market participants said that higher offers were due to the limited availability of material from Russian producers that are equipped with electric-arc furnaces.

There were, however, not many markets ready...

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