CIS billet export offers

CIS billet export offers are currently in the $430-440/mt FOB Black Sea price range for March shipments. Demand for billet is strong especially in the Middle East. Offers for Turkey are in a price range of $450-465/mt CFR Turkish ports. The low-end of this price range is effective for shipments to northern ports of Turkey, while the high-end of this price spectrum is effective for shipments to southern ports. While Italy returned to the market this week, demand from Italian buyers has not shown signs of strength yet. Next week, these buyers are expected to indicate demand for billets. On the other hand, it seems impossible to find CIS offers below $470/mt CFR level in the Persian Gulf.