Ex-CIS billet prices soften further

According to market sources, ex-CIS billet offers to foreign markets have decreased by an average of $20/mt over the past week to $365-370 FOB, with this price range now low enough to compete with Chinese billet offers at $355-360/mt CFR. However, no transactions for ex-CIS billet have been heard in the Turkish market yet. Market sources report that Turkish buyers have slowed down their billet bookings due to domestic political uncertainty, the approach of Ramadan and the ongoing strengthening of the US dollar against the Turkish lira.