CIS-based billet producers’ export offers move up again

Demand for ex-CIS billet in the international markets has improved slightly over the past week, though it has failed to reach lively levels for now. Market sources state that the uptrend of global iron ore prices which came to a halt last week has increased CIS-based billet mills’ production costs. As a result, steelmakers in the region have raised their billet export offers by an average of $15/mt week on week to $465-475/mt FOB. Additionally, SteelOrbis has been informed that a billet sale from the CIS region has been concluded to Tunisia at $485/mt CFR.