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Supply of low-priced Russian billet continues to depress and infuse bearishness in the East Asian market, Kallanish notes. Bookings were made at $650/tonne cfr Philippines in the week through 13 May. A trader thinks this involved Black Sea billet. An Indonesian mill was heard to have booked 20,000 tonnes of Russian billet during the 13 May week at $640/t cfr Jakarta. “It is a re-sold cargo. The vessel went to China and was re-sold to Indonesia,&rdq…
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Anna Low Singapore
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