Ex-CIS billet offers continue to rise

During the past week, demand for ex-CIS billet in the export markets has remained at low levels. On the other hand, CIS-based suppliers have increased their billet export offers by $5/mt on the lower end week on week to $410-420/mt FOB due to the rises recorded in scrap quotations.
 
Following the rise seen in CIS-based suppliers' billet offers on FOB basis, ex-CIS billet prices to Turkey have also moved up by $5/mt on the lower end week on week to $425-435/mt CFR. However, it is reported that Turkish billet buyers consider this range to be on the high side and are showing no interest in ex-CIS billet.
 
Meanwhile, demand for ex-CIS billet in Egypt has been at low levels over the past week, while ex-CIS billet offers are in the range of $430-440/mt CFR.