SteelOrbis has been informed from market sources that
CIS billet export offers have declined by $10/mt as compared to early this week to $515-525/mt FOB, for late September and October shipments. Meanwhile a transaction has been concluded from the
CIS to Saudi Arabia for 30,000 mt of
billet at the price level of $550/mt CFR Jeddah, for shipments in October.
As ex-
CIS billet offers are fairly cheaper than Turkish
billet export prices at $550-560/mt FOB,
billet demand in the
Middle East has focused mainly on ex-
CIS offers. Meanwhile, the pressure arising from the competitiveness of ex-
CIS billet offers' will likely increase in Turkish mills' export markets, where Turkish origin
billet offers have failed to attract attention.