CIS mini-mills have cut billet export prices by $35/MT for
November production to attract deals from consumers in the Middle East and to maintain
a competitive level with the European suppliers.
Billet was sold this week at $605-620/MT FOB Black Sea for November production
and the end of November and early December shipment, down from $640-650 FOB
seen last week, according to CIS market participants.
Most of the billet producers have sold out of material for October rolling and
several mills are reported to have limited tonnages for November production.
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