Export prices for steel billet from the CIS region have been under pressure from weak demand and falling scrap prices internationally, market sources told Fastmarkets on Thursday September 19.
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $356 per tonne on September 19, unchanged day-on-day but down by $7 per tonne since the beginning of the week.
A deal for Russia-origin billet was reported to be done to Egypt at $355-360 per tonne fob Black Sea. Offers for CIS-origin material to the country were heard at the same level.
Egyptian buyers were reluctant to make new deals due to uncertainties related to the possible introduction of safeguard duties.
The Supreme Administrative…