Ex-CIS billet booking in Egypt

After selling billet to Egypt at the price level of $545-550/mt CFR last week, a Ukrainian-based supplier has now concluded a deal for 20,000 mt of billet to Egypt at $550-555/mt CFR for March shipment. Market sources indicate that billet prices in the CIS have become stronger, while following this latest transaction there are no billet offers left below the level of $555/mt CFR in the Egyptian market.