CIS billet price weakens after last week's rapid rise

摘要

The CIS billet market appeared to be cooling down after the $10/mt price hikes that took place last week. The start of this week saw fading interest from buyers and traders' bids descending back to a maximum of $510/mt FOB, S&P Global Platts heard from market sources Monday. While no new deals had been seen yet this week, last week's rapid CIS billet price ascent was already being viewed as somewhat speculative and short-lived. The spike followed last week's IREPAS industry conference in Warsaw, as well as US President Donald Trump's announcement regarding sanctions against Iran, market sources said.