CIS billet producers seek to keep their prices firm

According to market sources, ex-CIS billet offers have trended sideways since last week at $490-500/mt FOB. However, as buyers have been seeking lower prices, the transaction volume has remained low in the past week. Steelmakers in the CIS have already completed most of their transactions at current price levels for July production materials and so they are trying to maintain this price range.
 
In addition, claiming that import scrap prices have not recorded any notable decline, CIS billet mills see no reason to cut their prices, despite reduction requests from buyers.