Demand received by CIS-based billet suppliers from the international markets has remained at low levels over the past week. Since CIS-based billet suppliers’ production costs have increased over the past two weeks due to higher scrap and iron ore quotations, they have also pushed up their billet export offers by $20/mt on the lower end and by $15/mt on the upper end week on week to $430-435/mt FOB.
On the other hand, ex-CIS billet offers to Turkey are currently at $445-450/mt CFR, while Turkish buyers mostly prefer domestically produced billets. Meanwhile, SteelOrbis has been informed that ex-CIS billet offers to Egypt are at $450-455/mt CFR.