According to market sources,
billet export offers from
CIS-based suppliers are currently in the range of $350-365/mt FOB.
CIS-based market sources state that demand for
billet in the export markets has been postponed for some time now amid the unclear price trend of scrap in foreign markets, with all eyes focused to gain a clearer picture of the direction of scrap prices. However, market players in the
CIS report that the postponed demand in the market is slowly resurfacing and
billet offers might rise accordingly. Traders in the
CIS region state that they know buyers in the foreign markets are in need of
billet and so they intend to play their cards right.
On the other hand, demand for
CIS billet in Egypt is currently slack, while no new ex-
CIS deals have been heard in
Turkey's Gebze region after the transaction concluded at $364/mt CFR approximately two weeks ago.