Holiday lull about to end in CIS billet market

Last week, ex-CIS January production 3SP-5SP steel billet offers were standing at $595-600/mt FOB. While the market has remained silent this week in general due the New Year and Christmas holidays in the CIS which will continue until January 9, the mainstream offer prices have remained almost unchanged as compared to last week. Nevertheless, SteelOrbis has learned from market sources that some transactions have been concluded at $605/mt FOB.
 
Approaching the end of the New Year holiday, ex-CIS steel billet offers to Turkey are standing at $625/mt CFR Black Sea ports or $630/mt CFR Aegean Sea ports. Both offers are for February shipments. However, no transaction has been reported at these price levels so far.
 
In general, it is thought that it may take up to mid-January for the market to gain clarity and see a revival. Some market players state that the return of the CIS and Europe from holiday may lead to some increase in market activity.