In the CIS steel billet market this week, prices have been adjusted downwards again for the sixth straight week in line with trends observed in international markets. Accordingly, ex-CIS 3SP-5SP steel billet offers to export markets are now standing at $580-590/mt FOB for shipments in late November. Last week, offers were standing at $590-600/mt FOB.
In the meantime, as SteelOrbis has learned from market sources, ex-CIS steel billet offers to the Turkish market are standing at $600/mt CFR for shipments in late November. However, as buyers in the CIS billet suppliers' export markets consider that prices have not yet reached the bottom, they are delaying their purchases.