Ex- CIS
billet prices have moved sideways for the third consecutive week at $390-410/mt FOB, though actual sales are mostly seen to be concluded at $390/mt FOB.
Demand for ex-CIS
billet in
Turkey is at very low levels, while CIS-based suppliers' offers to this destination are at $410-430/mt CFR. Market sources state that Turkish buyers are occasionally concluding purchases of
billet from the CIS region in line with their needs at $405-410/mt CFR.
Despite the negative impact of Ramadan on trading activity, Egyptian buyers have increased their purchases of ex-CIS
billet amid concerns over a possible decline in
billet supply after the temporary antidumping (AD) duties imposed on rebar imports from
Turkey, Ukraine and China for a period of four months. Market sources state that demand is livelier than levels recorded during previous Ramadans and that Egyptian buyers are continuing to make price inquiries for ex-CIS
billet. CIS-based suppliers'
billet offers to Egypt are still at $410-415/mt CFR with Egyptian buyers concluding deals in this price range. Meanwhile, SteelOrbis has been informed that in the current week a Turkish steel mill concluded a sale to Egypt for 20,000-25,000 mt of
billet at $405/mt FOB.