Ex-CIS steel billet offers continue to trend downwards. Accordingly, ex-CIS steel billet offers are now standing at $530-535/mt FOB, decreasing by $10/mt from $540-545/mt FOB last week. A recent transaction between a producer and a trader was concluded at $530/mt FOB for early September shipment.
In the meantime, although CIS steel billet offers to the Turkish market are still at $560-565/mt CFR, it is thought that these offers may decline to $550/mt CFR in the coming days, if the current market conditions prevail.