Over the past three weeks, demand for ex-CIS billet in target market has remained slack. In the week starting August 20, CIS-based billet suppliers decreased their export quotations following the downward movement of global scrap prices during the week ended August 17. In the week starting August 27, CIS-based billet suppliers were inclined to increase their prices as global scrap prices increased in the previous week. However, as Turkish mills accelerated their billet exports, competition in target markets gained momentum and so CIS-based billet suppliers have maintained their prices unchanged week on week. As a result, over the past three weeks, ex-CIS billet offers to target markets have decreased by $12.5/mt on average to $475-480/mt FOB. Meanwhile, no new billet offers have been heard from the CIS to Turkey, while ex-CIS billet prices to Egypt are at $490-500/mt CFR.