Demand on export side shapes ex-CIS billet offers

According to market sources, CIS mills' March production billet export offers are standing at $485-495/mt FOB, declining by $10/mt as compared to last week.  Buyers' asking prices are lower than these offers, while supply in the region is on the high side, though demand in the target export markets has remained poor. In Turkey, one of the target export destinations for CIS billet, market players have already concluded most of their import billet purchases and so demand for CIS billet in the country is slack this week. Ex-CIS billet offers to Turkey currently vary in the narrow range of $508-510/mt CFR, though Turkish buyers' expectations for offers are at around $500/mt CFR.
 
Meanwhile, CIS rebar export offers can be found at $510-530/mt FOB.