How will postponed demand impact ex-CIS billet offers?

Monday, 30 March 2015 16:30:55 (GMT+3)   |   Istanbul
According to market sources, billet export offers from CIS-based suppliers are currently in the range of $350-365/mt FOB. CIS-based market sources state that demand for billet in the export markets has been postponed for some time now amid the unclear price trend of scrap in foreign markets, with all eyes focused to gain a clearer picture of the direction of scrap prices. However, market players in the CIS report that the postponed demand in the market is slowly resurfacing and billet offers might rise accordingly. Traders in the CIS region state that they know buyers in the foreign markets are in need of billet and so they intend to play their cards right.
 
On the other hand, demand for CIS billet in Egypt is currently slack, while no new ex-CIS deals have been heard in Turkey's Gebze region after the transaction concluded at $364/mt CFR approximately two weeks ago. 
 

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