In addition to the sluggish demand conditions in the international steel markets caused by the Christmas and end-of-year holidays, the sharp declines recorded in Chinese billet export quotations have also led international buyers to mostly maintain a wait-and-see stance as regards new deals for ex-CIS billet.
In this context, CIS-based suppliers’ billet export offers have remained stable during the past week and are still at $515-525/mt FOB.
Meanwhile, 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.