According to market sources, ex-
CIS billet offers have been in the range of $360-365/mt FOB this week. Last week,
CIS billet offers did not attract much interest in the foreign markets, since, influenced by the rising trend of scrap prices, they had increased by $10/mt week on week, with the offers of one major Russian producer reaching as high as $370/mt FOB. The producer in question has since softened its
billet quotations to $365/mt FOB on the upper end. Market participants consider this to be a minor price adjustment rather than a price reduction.
Meanwhile, some market sources have reported that a Turkish buyer's inquiries for
CIS billet resulted in a transaction at the end of last week, concluded at approximately $375-380/mt CFR Aliağa.