SteelOrbis has been informed that CIS billet offers to the export markets have decreased by another $5/mt on average during the past week to $385-390/mt CFR. However, CIS-based traders are willing to give discounts of $5/mt to accelerate their sales, since buyers still consider this price range to be on the high side.
Meanwhile, trading activity in the CIS billet market is expected to slacken further during this week due to the one-day religious holiday in Ukraine and Russia, while Chinese billet offers to the region, which are considered to be on the low side at $360-365/mt CFR, are also exerting pressure on prices in the CIS.