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Steel billet prices in CIS dip to one and a half year low
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It is reported that the complicated global financial situation arising from euro zone crisis has been moving the prices of steel billets downward as some mills in CIS have cut their offer prices of billets trying to get the mills with enough order booked.
The Black Sea based CIS steel export market continued to be sluggish this week with negative trends observed for both longs and flats segments.
The steel billet prices dipped to one and a half year low. Billet prices have been slashed further by US$15~US$20/ton this week.
Market participants are in negative mood as the situation is likely to worsen and there is a strong chance of general levels coming down further.
News Date
6/18/2012 8:47:47 AM
reported by
Mike Lo
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