Ex-CIS billet export offers have increased by $5/mt on the lower end and decreased by $10/mt on the upper end week on week to $430-440/mt FOB. The decrease recorded in the most recent scrap transactions has caused buyers to expect a slight softening in ex-CIS billet offers. Meanwhile, SteelOrbis has been informed that CIS-based billet suppliers are giving offers $5/mt lower than the above price range for large volumes.
On the other hand, there are offers heard from the CIS region to Turkey at $450/mt CFR Bartin, with some sales concluded at $443-445/mt CFR. However, Turkish buyers are in no rush to conclude new ex-CIS billet bookings due to the prevailing quietness in the market ahead of the end-of-Ramadan holiday and also due to domestic billet prices which stand in the range of $450-460/mt ex-works.