While some CIS-based billet producers have filled their order books for November with the demand they received during October, it is observed that there are still CIS-based producers and exporters in the market looking for export opportunities. Meanwhile, ex-CIS billet offers to the international markets have remained stable during the past week at $455-460/mt FOB.
In the given week, CIS-based billet exporters have concluded sales to the Far Eastern markets, where demand for their billet has been strongest, with deal prices at $503-510/mt CFR. Additionally, a CIS-based billet producer has reportedly concluded a sale to the Philippines at $508/mt CFR. Lastly, CIS-based exporters have offered billet to North Africa at $480-490/mt CFR, but buyers in the region have not accepted these levels and are exerting pressure on prices.