Square billet prices to continue falling

摘要

Asking prices for CIS billet dropped by $5-10/t in early November to $450-460/t FOB Black Sea.The offers are nominal because no actual deals are being observed in themarket. Business activity is still minimal in the segment. Consumers expect furtherprice cuts from suppliers, pointing to the continuing fall of scrap prices, recoveryof billet supply, reduction of production costs incurred by major exporters.