According to market sources,
billet offers from the
CIS to the export markets have declined by $10/mt over the past week to the range of $430-440/mt FOB. Meanwhile, import scrap prices have continued their gradual downtrend, thus exerting negative pressure on
CIS billet producers' prices.
Billet offers from Belarus Steel Works (BMZ) are in the range of $435-437/mt FOB for 100 percent advance payments.
Over the past week, ex-
CIS billet offers to
Turkey have decreased by $10/mt to $455-460/mt CFR. Market sources state that demand for
billet imports has been weak in the Turkish market since last week, while Turkish buyers continue to seek for further discounts from
CIS billet traders.