Reuters reported the export prices of Black Sea billet fell under the weak economy outlook.

It’s known that many buyers decided to delay purchases or buy just what was urgently necessary as they forecasted further price drops.

Traders quoted Black Sea billet at US$650~US$660/ton FOB Russia and Ukraine, compared with US$670~US$680 last week.

Meanwhile, the producers in Europe, Russia and Turkey may lower prices in dollar terms due to depreciated Euro, Russian rouble and Turkish lira against the US dollar

According to the trader, European producers were selling billet at €475/ton FOB Southern Europe, down from €495/ton in a week earlier.