CIS-based billet suppliers raise export prices

During the past week, demand received by CIS-based billet suppliers from the international markets has increased and is now at lively levels. Market sources state that CIS-based billet suppliers have concluded export sales, particularly to Africa, and that they are happy with the demand they have been receiving. On the other hand, CIS-based billet suppliers’ costs have increased in line with the rises recorded in scrap and iron ore quotations. Accordingly, billet exporters in the CIS region have increased their offers by $20/mt on the lower end and by $25/mt on the upper end week on week to $450-460/mt FOB. Additionally, SteelOrbis has been informed that billet offers from the CIS region to Turkey are currently in the range of $465-475/mt CFR.