It is observed that demand for Turkish billet exports in the international markets has remained at low levels over the past week. Turkey, one of CIS-based suppliers’ traditional export market, is now a billet exporter and in Egypt demand for long steel has failed to revive for a long time. As a result, CIS-based billet suppliers continue their efforts to compensate their loss in these traditional markets by following an aggressive price policy in markets such as Far East and Africa.
SteelOrbis has been informed that a CIS-based producer has concluded a billet sale to a buyer in the Southeast Asia at $500/mt CFR. Additionally, ex-CIS billet offers to Egypt are still observed to be at $475-485/mt CFR. Meanwhile, CIS-based suppliers billet export offers have decreased by an average of $10/mt week on week to $455-460/mt FOB.