CIS billet export offers continue to increase

CIS billet export offers are currently in the $530-540/mt FOB Black Sea price range for May shipments. CIS billet prices are continuing to increase. The robust long products market in the Mediterranean and Black Sea is supporting the billet market. On the other hand, the low-price offers from China, Malaysia and India, especially to the Gulf region, may create difficulty for CIS mills in this market.