Ex-CIS billet export prices have fallen further over the past week. Having started to move down particularly after the decreases seen in scrap quotations, ex-CIS billet prices have fallen further by an average of $15/mt week on week to $450-455/mt FOB.
Meanwhile, SteelOrbis has been informed that demand for billet exists in the Far East and North Africa. However, Iranian billet offers to Thailand are in the range of $400-420/mt FOB, market sources report. Since this level is competitive in relation to CIS-based billet producers’ prices, market sources expect another decrease in ex-CIS billet prices.