CIS origin 3SP-5SP billets are currently being offered for export at around $515-520/mt FOB Black Sea for late October shipments.
CIS mills have been trying to keep their price levels unchanged. Since the longs markets in the Mediterranean and the Middle East have not been doing very well, buyers are approaching these offer levels with caution. However, because of the increase in the Chinese market CIS origin billet may gain greater acceptance in the Southeast Asian market. Offers to Southeast Asia are currently at $590/mt CFR. Although buyers have been pushing for lower prices, they may accept these levels soon.