After the holidays in the CIS in early May, CIS steel market players have started to return to the market and new ex-CIS steel billet offers have started to gain clarity. It is reported that, after increasing its steel billet export offers up to $525/mt FOB before the holidays, a major Belarusian steel producer has cut its offers to $510/mt FOB after the holidays. Meanwhile, other CIS steel producers have sought to increase their steel billet export offers as well. However, due to the downtrend observed in scrap prices, they have failed to do so. Currently, ex-CIS steel billet export offers at $500-505/mt FOB are available in the market, though it is heard that transactions are also possible below this price level after negotiations.
The latest steel billet sales from the CIS to Turkey had been concluded at $525/mt CFR in the last week of April. Market players state that Turkish buyers have started negotiations this week for ex-CIS steel billet at the price range of $510-515/mt CFR, while a Turkish steel producer is reported to have booked ex-CIS billet at $510/mt CFR.
