According to market sources, buyers in the local Omani
billet market have maintained a wait-and-see approach as regards the price trend ahead of the New Year and are in no rush to conclude transactions for import or domestic production. Accordingly, demand for
billet in the local Omani market is currently weak. Meanwhile,
billet prices in the Omani domestic market have declined by $15/mt over the past month to $280/mt ex-works, for December shipment. In addition, Chinese
billet offers to the country have declined by $30/mt in the same period to the range of $250-255/mt CFR, also for December shipment.