Export offers for
billet from the
CIS region have declined once again, falling by a further $10/mt during the past week to $310-330/mt FOB. At the same time, buyers have sharply increased their inquiries for ex-
CIS billet.
According to information received by SteelOrbis today, June 9, Turkish steel producers, who had not concluded deep sea scrap purchases since the first week of May, recommenced their purchases of deep sea scrap yesterday. As a result, the volume of inquiries for ex-
CIS billet prices, which had began to increase yesterday, has risen further today, while purchases of
billet from the
CIS region are expected to increase in the short term.
Meanwhile, demand for ex-
CIS billet in Egypt has remained sluggish over the past week due to Ramadan. However, Egyptian market sources state that buyers in the country are keeping a close eye on Turkish buyers'
billet bookings and they may increase their own ex-
CIS billet purchases if demand for ex-
CIS billet rises in Turkey.