Ex-CIS billet prices continue their rising trend

During the past week, demand for billet exports from the CIS region has remained at medium levels, while ex-CIS billet offers to the export markets are currently at $400-415/mt FOB. After selling billet to Egypt at $400/mt CFR, CIS-based billet sellers have increased their offers to this country by $20/mt on average week on week to $420-430/mt CFR. Meanwhile, suppliers in the CIS region have raised their billet offers to Turkey by $10/mt on average in the current week to $415-425/mt CFR. Also, SteelOrbis has been informed that a Turkish steelmaker has this week concluded a deal for billet from Ukraine at $415/mt CFR.
 
After the latest rise in global billet prices, scrap and iron ore quotations in the global markets have continued their upward movement. As a result, CIS-origin billet offers to the export markets are expected to increase further in the coming days.