CIS billet export offers

CIS billet export offers are currently in the $405-415/mt FOB price range for January shipments. CIS producers have been able to maintain their price levels for a long time since they are selling goods off the production line and not goods in stock. However, due to the weakness in longs market, the fact that producers in Egypt and Turkey have gained competitiveness in billet exports may put pressure on the prices of the CIS producers.