According to market sources, import billet offers to Saudi Arabia have increased by $10-15/mt over the past two weeks. Ex-CIS billet offers to Saudi Arabia are at $510/mt FOB, while Chinese billet offers are at $515/mt CFR.
Market sources state that Saudi Arabian billet buyers have started to evaluate offers this week and that ex-Turkish billet offers to Saudi Arabia are currently in the range of $530-540/mt FOB. However, Turkish producers have no margins left to decrease their prices due to raw material costs, while it is getting harder for Turkish producers to compete with ex-CIS and Chinese offers in the Saudi Arabian market.