CIS billet offers for export

SteelOrbis has heard that CIS origin St 37 billets are being offered for export at $385-395/mt FOB Black Sea for June shipment. The offers at $380/mt FOB and below were almost withdrawn from the market with the brisk in Black Sea scrap. CIS origin billet offers for Italy are at around $410/mt CFR. The Euro/US Dollar exchange rate, which reached 1.26 level, gives an advantage for both CIS and Turkish billet producers. The activity in Europe may enable Turkish rolling mills to enter in CIS billet market where they have been far away for a long time.