With the downtrend of global scrap prices coming to an end during the past week, CIS-based billet exporters have increased their prices by $10/mt on the lower end and by $5/mt on the upper end week on week to $510-515/mt FOB. Market sources state that international demand for ex-CIS billet has improved, providing support for higher prices.
Additionally, CIS-based billet suppliers’ offers to Turkey and Egypt, the main export markets for ex-CIS billet, are currently at $520-530/mt CFR.