Saudi billet market trends sideways

According to market players, local billet prices in the Saudi Arabian market have moved on a sideways trend since last week at $570/mt delivered. Meanwhile, import billet offers to the country have not shown any changes either during the past week. Accordingly, Turkish billet offers to Saudi Arabia are still standing at $575/mt CFR, while CIS billet offers for the same destination can still be found in the range of $538-570/mt CFR.
 
Saudi buyers consider ex-Turkey billet offers to be on the high side, while they have continued to book CIS billet in the above price range since last week.