During the past week, ex-CIS billet offers to international markets have moved sideways in the range of $515-525/mt FOB.
Following Ramadan, demand for ex-CIS billet in Egypt - one of the main export markets for CIS-based billet exporters - has improved slightly, while CIS-based exporters’ billet offers to Egypt have stood at $535-545/mt CFR. In Turkey, another important export market for ex-CIS billet, billet purchases have slowed down as demand for Turkish long steel both in Turkey and in the export markets is weak. As a result, import billet demand in Turkey has not revived and is still at low levels. Accordingly, ex-CIS billet offers to Turkey have remained stable at $530-540/mt CFR.