It is observed that demand for ex-CIS billet in the international markets has weakened over the past week. In the same period, demand received from the Far East region by CIS-based suppliers has declined, while Egyptian buyers’ demand for billet from the CIS region has decreased due to limited domestic long steel sales in Egypt.
Ex-CIS billet offers to Egypt are currently at $475-485/mt CFR, while billet offers from the CIS region to the international markets have remained stable week on week at $465-470/mt FOB. On the other hand, SteelOrbis has been informed that CIS-based billet exporters are offering discounts of around $5-10/mt, depending on tonnages.