According to market sources, CIS billet export offers are now standing at $510-515/mt FOB, indicating an increase of $10/mt since last week. In line with the increased raw material prices, CIS billet producers have revised their export offers upward, while demand for CIS billet in the export market has started to improve.
In the meantime, CIS billet offers to Turkey stand at $525-537/mt CFR, while many ex-CIS billet deals were concluded last week in Turkey's Iskenderun region at the price level of $525/mt CFR. Turkish buyers' interest in CIS billet will likely increase in the coming days and they are expected to accelerate their billet purchases against the backdrop of rising scrap prices.
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