SteelOrbis has learned from market sources that ex-CIS billet offers have decreased by $10/mt since last week and are now standing at $500-510/mt FOB. CIS billet export prices have softened as a result of the combination of higher supplies and weak demand, and also due to the sideways trend seen in scrap prices after a period of upward movement. Market sources also state that Byelorussian Steel Works (BMZ) has sold batches of billet at $500-501/mt FOB for advance payment.
In the meantime, market players state that, although billet offers from the CIS to Turkey are in the range of $515-520/mt CFR, no transaction has been reported so far. Turkish rollers are cautious as regards concluding new ex-CIS bilet bookings due to the strengthening of the US dollar against the Turkish lira.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.