Towards the end of last week, CIS steel billet producers and traders concluded some steel billet transactions to Turkey and Egypt at $575-580/mt FOB on actual weight basis, though for low tonnages. Meanwhile, this week ex-CIS 3SP-5SP steel billet offers are standing at $580-585/mt FOB.
As can be seen also from SteelOrbis Steel Reference Prices, ex-CIS steel billet export offers, which have been following a downward trend since mid-September, have started to stabilize, according to CIS producers, who also state that they intend to maintain their current price levels, unless scrap prices soften in the coming period.