CIS-based billet producers’ export offers have moved up for the third consecutive week, increasing by an average of $5/mt week on week to $520-530/mt FOB. SteelOrbis has been informed that, except for some small-scale producers, the order books of most CIS-based billet producers for June are full.
Meanwhile, demand for CIS-origin billet has been strongest from the Middle East and North Africa. Additionally, demand for ex-CIS billet in Egypt - CIS-based suppliers’ main export market - is currently at good levels, with prices to Egypt standing at $540-545/mt CFR. On the other hand, demand for ex-CIS billet in Turkey is at low levels, while CIS-based suppliers’ billet offers to this destination are at $530-540/mt CFR.