International demand for ex-CIS billet has continued to be characterized by weakness over the past seven days. Market sources state that some CIS-based billet producers have fairly full order books for October, though some of them are still in the market seeking to conclude sales. CIS-based billet exporters have kept their billet offers stable over the past week at $475-480/mt FOB, while SteelOrbis has been informed that the exporters in question have given discounts of $5-10/mt for deals for large tonnages.
In the given week, CIS-based suppliers have not received demand from Turkey, one of their main target markets for billet sales. On the other hand, their billet export offers to Egypt are currently at $490-500/mt CFR.