During the past week, billet offers from the CIS region to the international markets have declined by an average of $5/mt to $485-500/mt FOB. However, the downtrend of ex-CIS billet prices which started due to the influence of the declines seen in global scrap quotations is expected to come to a halt following the change in the trend of scrap prices recorded in the current week.
This week, ex-CIS billet offers to Turkey and Egypt have trended at $500-510/mt CFR and $510/mt CFR, respectively, while market sources state that CIS-based suppliers have received low demand from both these markets.