CIS billet export offers, which have declined gradually to $590/mt FOB over recent weeks,
are expected to soften further. With the recent decreases, ex-
CIS billet offers now stand at $585/mt FOB.
According to the information collected from market sources, amid weak demand ex-
CIS billet offers are likely to decrease further in the coming days. Currently, ex-
CIS billet deals at $600/mt CFR Istanbul or below are possible. Following the softening in ex-
CIS billet offers, it is anticipated that
Kardemir's
billet sales in ex-works prices opened on the morning of May 16 will not attract as much demand as its rebar sales.