Amid the lack of sharp declines in the global scrap market and in billet quotations in CIS-based suppliers’ target markets during the past week, ex-CIS billet export offers have remained stable week on week at $515-525/mt FOB. On the other hand, buyers in the global markets have maintained a cautious stance against the backdrop of the mostly downward movement since the beginning of January of Chinese billet export quotations which were at $495/mt FOB on January 15-16.
As the result of lack of changes in ex-CIS billet prices, ex-CIS billet offers to Turkey and Egypt have also moved sideways week on week at $530-535/mt CFR and $535-540/mt CFR, respectively.