Ex-CIS billet offers revised downwards

Thursday, 18 July 2019 13:41:17 (GMT+3)   |   Istanbul

Ex-CIS billet offers to the international markets have decreased by $5/mt during the past week to $425-430/mt FOB. Meanwhile, market sources report that traders’ offers for large volumes of Ukrainian billet are at $410-420/mt FOB Turkey. Within the scope of these offers from traders, a billet sale has been concluded to Libya from Ukraine. On the other hand, considering the price levels of Russian billet offers to the Balkan countries, one can safely say that international buyers are continuing to exert pressure on billet prices.

In the meantime, CIS-based billet suppliers are expected to continue focusing on the MENA (Middle East and North Africa) and Far East markets. Following the Iranian billet sale to Indonesia concluded in the current week, CIS-based billet suppliers are expected to compete with Iranian sellers in the Far East market.

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