Ex-CIS billet export offers
SteelOrbis has learned that CIS producers are offering billets for export at the price level of $350-370/mt FOB Black Sea for December shipments. However, the billet buyers are not in any rush to purchase since they think that the scrap prices will soften further due to lack of demand for finished steel products, and the softening scrap prices will cause the billet prices to drop down further.