Market sources indicate that CIS billet export offers have remained unchanged since last week at the range of $505-510/mt FOB, while ex-CIS billet offers to Turkey have also remained stable over the same period at $525-530/mt CFR.
Despite moderate demand in Turkey for the CIS billet offers, no deals have been heard this week. Turkish steelmakers will likely postpone billet purchases from the CIS for a while and will wait for greater clarity in the scrap trend, following the softening in scrap prices.