During the past week, demand for CIS origin billet in the export markets has recovered slightly and is now at medium levels. Meanwhile, ex-CIS billet offers to the export market have increased by $52.5/mt in the same period to $300-345/mt FOB, for April production.
Following the rises seen in global billet prices, foreign buyers in the global markets have quickly increased their inquiries. Meanwhile, with Chinese billet suppliers sometimes suspending their export offers, the supply volume in the global billet market has declined. CIS-based billet suppliers have been finding it difficult to decide on a pricing strategy, while some suppliers have followed the Chinese sellers' decision to suspend their billet sales, though others have increased their billet offer prices to the export market. Market sources state that buyers who believe that the sharp rises seen in ex-CIS billet prices are temporary have been trying to force CIS-based billet suppliers to offer discounts by giving firm bids at lower levels. However, CIS-based billet suppliers are unwilling to do so due to the declines recorded in the supply volume.