Ex-CIS billet prices decrease by quite diverse margins depending on destination

Thursday, 25 April 2019 14:37:52 (GMT+3)   |   Istanbul

The equilibrium in the ex-CIS billet market has changed with Egypt - a very important export market for CIS-based billet suppliers - imposing 25 percent duty on billet imports, and so a variety of ex-CIS billet prices can now be observed in the international markets.

CIS-based producers have issued billet prices at $420-425/mt FOB for June output, at $425-430/mt FOB for May output and at $435/mt FOB for spot sales. SteelOrbis has been informed that billet sales from the CIS region have been concluded at these price levels. Meanwhile, CIS-based mills have concluded sales of large billet tonnages to Thailand and Indonesia at $460/mt CFR, while it is heard that ex-CIS billet offers to the Philippines are at $470/mt CFR, while buyers’ price ideas are at $460/mt CFR. Also, a sale of 40,000 mt of billet from the CIS region to Algeria has been concluded at $443-445/mt CFR.

Ex-CIS billet cargoes, for which orders had previously been placed by Egyptian buyers but were subsequently canceled, have been encountered in Turkey which is another important market for CIS-based billet exporters. These cargoes for small tonnages are offered by trading companies to Turkey generally in the range of $435-445/mt CFR, though the lowest price level heard is at $430/mt CFR. Additionally, it is observed that CIS-based billet producers are trying to keep their offers to Turkey stable at $450-460/mt CFR.

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