CIS billet export market sees boost in activity

According to market sources, ex-CIS billet offers have softened by $10/mt on the higher end of the range to $520-530/mt FOB for late April-early May shipments. Meanwhile, this week a billet deal from the CIS to Saudi Arabia has been concluded at $525/mt FOB Mariupol. However, a recently concluded ex-Ukraine billet deal at $515/mt FOB Azov has put downward pressure on CIS mills.
 
On the other hand, CIS billet offers to Turkey are standing at $535-540/mt CFR. A Turkish steelmaker from the Izmir region has booked 10,000 mt of billet at $536/mt CFR from the CIS, following a previous 10,000 mt of billet transaction from the CIS at $540/mt CFR concluded by a buyer from the Iskenderun region. Turkish buyers' billet demand has remained generally at good levels and they are consider ex-CIS billet offers to be attractive enough.