SteelOrbis has learned that offers of ex-CIS billets from CIS ports are standing at the levels of $390-400/mt CFR for January/February shipments. The price level has increased to the abovementioned price compared to last week due to the fact that the Turkish producers have turned their attention to the CIS origin billet instead of scrap purchase (due to the scrap price uptrend.)
In the local Turkish billet market, Isdemir sold great tonnages of billet at the price range of $380-400/mt ex-works excluding VAT last week; additionally, there have been some billet deals concluded from the CIS to Turkey. For these two reasons, there is no interest for the recent billet offers from the CIS at the price levels of $390-400/mt CFR Turkey.