According to market sources, ex-CIS billet offers have increased by $5/mt since last week and are now at $490-495/mt FOB. Last week, CIS billet producers revised their prices upwards after the conclusion of ex-CIS billet deals to Turkey at $501-505/mt CFR. Additionally, it is heard that a Belarus-based producer opened a tender for billet sales at the price level of $500/mt FOB on July 8.
CIS billet producers are seeking to strengthen their billet prices due to the uptrend in scrap prices. Demand is expected to be brisk in the Middle Eastern and North African markets after Ramadan, while Turkish buyers state that prices higher than $505/mt CFR are unacceptable.