According to market sources, having almost completed their billet sales for December production and concluded transactions mostly in the range of $500-505/mt FOB, CIS billet producers have taken stronger scrap prices into account and increased their billet export offers for January production by $5-10/mt to $505-515/mt FOB.
In the meantime, CIS billet offers to Turkey are standing in the range of $515-530/mt CFR, depending on the region, though CIS mills want to set their offers for Turkey at $530-535/mt CFR for January production. Meanwhile, Turkey-based steelmaker Kardemir's billet offers at $517/mt ex-works, excluding VAT, have resulted in weaker demand for import billet in the country, while Turkish buyers are not inclined to consider import offers above levels of $515-520/mt CFR.
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