An oversupply situation in steel billet was helping to continue the weakness in the export market for such material from the Commonwealth of Independent States, sources told Fastmarkets on Wednesday October 10.
"So many traders and mills are offering [CIS-origin] billet now. That is why customers are getting nervous," one trader told Fastmarkets. "Customers feel that if they buy today, tomorrow someone will offer an even lower price."Fastmarkets' daily CIS billet index was almost unchanged at $461 per tonne fob Black Sea on...