CIS billet export offers

CIS billet export offers are currently in the $405-420/mt FOB price range for January/February shipments. The rapid rise in Turkish-origin billet prices seems to support CIS-origin billet in the Mediterranean and Middle East. Two weeks ago, there was a forecast that offers could fall below $400/mt FOB. However, most producers have now raised their offers to above $410/mt FOB. Last week, sales were concluded in the low $430s/mt CFR to Iskenderun and Izmir. Currently, the offers for Turkey have increased. Offers have been given to the ports of Marmara and Bartin at $430/mt CFR and at $440/mt CFR to southern ports.