CIS billet export offers are currently in the $410-420/mt FOB price range for November shipments. The
CIS-origin offers remained unchanged compared to last week. Customers in
Italy and
Turkey are not showing much interest in offers for November shipments. However, with the new long product
investments starting in
Turkey, demand for imported
billet may rise in order to meet requirements. In
Iran – a significant
billet importer - domestic
rebar prices fell slightly due to the huge
rebar imports. This situation may also affect
billet imports in the upcoming period.