It is observed that CIS-based suppliers’ billet export prices have remained stable during the past week at $515-525/mt FOB. Following the end of Christmas holiday in the CIS region which started at the beginning of January, CIS-based suppliers have started to return to the market this week, while international buyers have stepped up their price inquiries for ex-CIS billet compared to the previous week.
Ex-CIS billet offers to Turkey have moved sideways week on week at $530-535/mt CFR, while it is heard that an ex-CIS billet sale to Turkey has been concluded at $535/mt CFR this week. On the other hand, domestic billet quotations in Turkey are in the range of $540-550/mt ex-works, leading Turkish buyers to maintain their cautious stance. As a result, no significant change in demand for ex-CIS billet has been recorded in Turkey during the past week.
It is also observed that ex-CIS billet offers to Egypt have remained unchanged week on week at $535-540/mt CFR. Meanwhile, demand for ex-CIS billet in Egypt is still at low levels.