Ex-CIS billet offers to Turkey move down

According to market sources, ex-CIS billet offers to Turkey have been reduced to $275-280/mt CFR, for October shipment, declining by $10/mt over the past week. However, with Chinese billet offers declining further, CIS-based billet suppliers are having difficulties in concluding sales. Therefore, suppliers in the CIS region are willing to accept Turkish buyers' firm bids at $270/mt CFR and below. No new ex-CIS billet deal has been heard in Turkey this week, while demand is still at very low levels. Meanwhile, Chinese billet offers to Turkey are currently at $260/mt CFR and Chinese billet suppliers are expected to reduce their prices further in the coming period.