Currently, demand for ex-
CIS billet in the export markets varies according to destination, while
CIS-based exporters'
billet offers to their target markets have moved up by $22.5/mt during the past week to $345-350/mt FOB. This increase is believed to be caused by the ongoing rises in global scrap prices since the beginning of October and by the increases seen in Chinese
billet export quotations this week.
Demand for ex-
CIS billet in Egypt is currently at medium levels, while
CIS-based
billet exporters have raised their offers to the country by $15/mt week on week to $360-370/mt CFR. This new price range has gained acceptance from Egyptian buyers and market sources report that new ex-
CIS billet deals in Egypt are still heard.
Although demand for ex-
CIS billet in
Turkey - another important target market of
CIS-based
billet exporters - has improved slightly during the past week, it is still at low levels. Meanwhile, ex-
CIS billet offers to
Turkey have increased by $22.5/mt week on week to $355-360/mt CFR. Additionally, market sources report that an ex-
CIS billet deal has been concluded in
Turkey at $355/mt CFR.