CIS billet export offers

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.