According to market sources, ex-
CIS billet offers have softened by $5/mt since last week to $485-495/mt FOB. Due to the beginning of Ramadan, demand has decreased in the
billet markets in the Middle East and North Africa, forcing
CIS producers to lower their prices. Ex-China
billet offers to the same markets have been in the range of $470-480/mt FOB, also forcing the hand of
CIS producers.