Ex-CIS billet offers to Turkey increase

According to market sources, ex-CIS billet offers to Turkey have increased by $5/mt over the past week to $275-280/mt CFR, for November shipment. Meanwhile, buyers' firm bids are in the range of $268-270/mt CFR but sellers continue to reject buyers' firm bids. However, with ex-Russia billet offers decreasing close to the levels of Chinese billet offers last week, Turkish buyers increased their inquiries for Russian billet. In the current week, in parallel with the increases seen in scrap prices this week, suppliers in the CIS region have increased their billet offer prices to Turkey. Accordingly, inquiries of Turkish buyers for CIS billet have risen once again during the past week due to their expectations of a further increase in billet prices and also against the backdrop of the strengthening of the Turkish lira against the Russian ruble. However, no new deal has been heard during the past week. Meanwhile, Chinese billet offers to Turkey are still at $260-270/mt CFR.