REVIEW OF 2011: Political unrest in Mena unsettled CIS billet export market
Dec 28, 2011 | 04:14 AM
Billet producers in the CIS started 2011 with an optimistic outlook thanks to what looked like a promising export market in the Middle East and North Africa (Mena) region.
CIS mills had also been cautious enough to keep their production levels at 60-90% of capacity to avoid being caught out by high stock levels and falling prices and demand.
No one was prepared for the Arab Spring, which started in Tunisia in January, then quickly spread to Egypt, Libya, Saudi Arabia and Bahrain.
The political turmoil in Egypt meant that market participants withdrew from the CIS billet market, as people took to the streets to protest against Hosni Mubarak, then president of Egypt.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.