The uncertainty resulting from the recent proliferation of protectionist measures and investigations continues to prevail in the international steel market, and is reflected also in the billet sales of CIS-based exporters as buyers are concluding purchases only in line with their needs. Having started to fall at the end of March, ex-CIS billet prices have moved sideways week on week at $500-520/mt FOB supported by the upward movement of Chinese billet export quotations, despite lower global scrap quotations and the weakness of billet demand.
Ex-CIS billet offers to Turkey and Egypt, CIS-based billet exporters’ main markets, have also remained stable over the past week at $520-535/mt CFR and $520-540/mt CFR, respectively. SteelOrbis has also been informed that the demand received from these markets by CIS-based billet exporters is not significant.