The price trend in the CIS export billet market reversed at the beginning of this week, going downward with buying activity in the major outlets turning sluggish, Fastmarkets heard on Tuesday February 19.
This was partially due to the massive volumes of bookings done in recent weeks. Another reason, howover, was the weakening of the import scrap market in Turkey as well as lower billet prices in China after the Lunar New Year holiday in the East...