SteelOrbis has been informed that 3SP-5SP grade steel billet offers given by CIS producers to the global market have risen to the levels of $530-540/mt FOB, due to the increased activity in the Iranian steel billet market.
While the abovementioned price levels are not generally accepted in other markets and especially in Turkey, the filling of CIS producers' order books with demand from regions such as the Middle East, particularly Iran, may prevent significant decreases in their price levels.