The rises recorded in global scrap prices last week have been reflected in CIS-based billet exporters’ prices with the support provided by the billet sales made from the CIS region to the Far East. As a result, ex-CIS billet quotations have increased by an average of $5/mt week on week to $505-520/mt FOB.
Ahead of the end-of-Ramadan holiday, only a few ex-CIS billet offers have been heard in Turkey and Egypt, at $520-525/mt CFR and $535-540/mt CFR, respectively.