CIS suppliers maintain firm stance on billet export offers

According to market sources, ex-CIS billet offers have remained unchanged over the past week in the range of $380-390/mt CFR. According to market players, an ex-CIS billet deal was concluded in Turkey at $381/mt CFR last week, while no other import billet deals have been heard since.
 
In the coming period, the Russian economy is expected to slow down and billet consumption in the local Russian market is predicted to fall. Accordingly, Russian suppliers are expected to focus on the export markets, while they are seeking to maintain a strong stance on their export prices due to increasing iron ore and scrap prices and with the Russian ruble maintaining its strength against the US dollar.