CIS billet export offers

CIS billet offers, which hit the bottom last week, appear to be increasing this week. Some trading firms and small producers had made offers and concluded sales at $500/mt FOB Black Sea and below last week. However, trading firms have started to mention $510-515/mt FOB Black Sea levels this week for June shipments. After the May 1 holiday, CIS producers are expected to return to the market towards the end of the week with offers of $515-520/mt FOB Black Sea.