Billet offers given from the CIS have increased to the range of $350-370/mt FOB CIS from the levels of $345-350/mt FOB CIS seen last week. Due to their occasional billet purchases from CIS countries in the context of high scrap prices, the Turkish mills have also played a part in the uptrend of CIS origin billet prices.
In the Turkish domestic market a local mill this week announced its billet price at the level of $403/mt ex-works. Demand for the material at this price has followed normal levels. In the Turkish domestic billet market other mills' offers have also been around the abovementioned level. Meanwhile, export offers of Turkish mills for the international markets are said to be at $400/mt FOB this week.
In the coming days, it is expected that end-user demand for rebar in particular will play an important role on the pricing of billet.