Ex-CIS billet export prices have increased by an average of $20/mt week on week to $530-540/mt FOB. Market sources state that CIS-based billet suppliers have received plenty of orders and that even some suppliers’ order books for May have already been filled. As a result, it is observed that billet suppliers in the CIS region are in no rush to conclude new sales.
Meanwhile, the ongoing upward movement of global scrap prices as well as the high levels of Chinese billet export quotations have provided support for ex-CIS billet prices. Additionally, the upward revision of CIS-based suppliers’ billet export prices has gained acceptance in the international markets, while some CIS-based exporters have concluded billet sales in the current week at $530-535/mt FOB.
In the current week, no actual sales price has been heard from the CIS region to Turkey, while market sources state that CIS-based suppliers may be offering billet to Turkey at the minimum price level of $550/mt CFR. Although Turkish billet buyers have not concluded new purchases of ex-CIS billet this week, Turkish rolling mills are expected to continue purchasing billet from the CIS region since domestic billet quotations in Turkey have increased rapidly and also due to the tight billet supply in the local Turkish billet market.
On the other hand, ex-CIS billet offers to Egypt are currently at $550-560/mt CFR, though demand in the North African country for billet from the CIS has remained at low levels as Egyptian buyers consider this price range to be on the high side.