CIS billet suppliers keep prices unchanged for Turkey

According to market sources, ex-CIS billet offers to Turkey have remained unchanged over the past week at $285-290/mt CFR, for December shipment. Market sources state that billet offers from the CIS have remained higher than the Chinese billet offers, and so demand for ex-CIS billet has remained low during the past week. Meanwhile, CIS-based billet suppliers have been concluding sales to Egypt at $285-295/mt CFR and, accordingly, they are unwilling to reduce their offers to Turkey. On the other hand, it has been heard that a Turkish steelmaker has concluded an ex-CIS deal for around 30,000 mt of billet in the range of $281-282/mt CFR. The transaction in question has not yet been confirmed by the buyer.
 
Meanwhile, Chinese billet offers to Turkey are currently in the range of $255-260/mt CFR. Turkish buyers' firm bids to Chinese suppliers are below $255/mt CFR. Although Turkish buyers' inquiries for Chinese billet have increased during the past week, no new deal has been heard yet.