Ex-CIS billet offers decline

According to market sources, this week demand in CIS billet export markets is weak due to the approach of the year-end and since most buyers in target markets have completed their billet purchases. Following the deals concluded and discounts given last week, ex-CIS billet prices have decreased by $5/mt week on week to $245-260/mt FOB, for January shipment. In the given week, a Russian steel producer has sold 45,000 mt of billet to Egypt at $270/mt CFR for January shipment, while a steel producer from Libya has booked billet from the CIS at $265/mt CFR to be loaded in January. Meanwhile, ex-CIS billet offers to Turkey are currently at $255-256/mt CFR, for January shipment.