CIS origin 3SP-5SP billets are currently being offered for export at around $520-525/mt FOB Black Sea for January shipments.
The CIS billet producers have increased their prices thanks to the upward price trend in the Turkish market. In addition, the still-strong Far East market has also been supporting the CIS producers. If the Chinese government increases the steel export taxes in early 2008, the CIS producers will see a better demand level from the Far East market.