CIS origin 3SP-5SP billets are currently offered for export at around $490-500/mt FOB Black Sea for late September shipments.
The halt in the decline of the billet market has been followed by the beginning of a market revival. Some sales have been concluded at $490/mt FOB to the Middle East. CIS producers are aiming to reach $500/mt level for sales. If the Italians are able to return to the market with the support of the high Euro-US Dollar exchange rate, the CIS producers may reach their targets.