CIS-based billet suppliers see livelier demand in target export markets

During the past week, demand for ex-CIS billet in target export markets has increased slightly. Although China returned to the global billet market at the beginning of this week after its week-long national holiday, buyers still consider ex-CIS billet offers to be more attractive. Hence, while demand for Chinese billet is still at low levels, demand for ex-CIS billet is now at medium levels.
 
 
Over the past week, demand for ex-CIS billet has increased in Egypt - one of the most important markets of CIS-based suppliers, while billet offers from the CIS region to Egypt are currently at $340-345/mt CFR. Also, CIS-based suppliers have raised their offers to Turkey - another important target market for ex-CIS billet sales - by an average of $8.5/mt week on week to $327-3335/mt CFR amid the upward trend of import scrap and finished steel quotations in Turkey, supported by the improved demand. Meanwhile, SteelOrbis has been informed that a Turkish buyer has concluded an ex-Russia billet deal at $330/mt CFR.