According to market sources, ex-CIS billet offers have moved up by $5/mt since last week to $510-515/mt FOB. Meanwhile, it is further stated that overhauling works are taking place at Belarus-based mill BMZ and so the producer is purchasing billet from Russia at the moment to continue its rebar production. Buying activity for CIS billet exports is currently strong, while CIS domestic billet purchase activity has remained on the low side.
On the other hand, CIS billet offers to Turkey are at the range of $525-528/mt CFR and some deals have been concluded at these levels. As import prices are more attractive than billet offers in the Turkish domestic market, Turkish buyers are expected to show increased interest in CIS billet offers.
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