Market sources report that CIS billet export offers have moved on a stable trend over the past week, still hovering at $465-480/mt FOB. It is heard that some ex-CIS billet deals have been concluded in the Middle East and North Africa at this price range in the past week. Meanwhile, the gradual declines in import scrap prices have exerted some downward pressure on billet prices, despite the tightness in supply.
On the other hand, this week's CIS billet export offers for Turkey can be found in the range of $475-485/mt CFR, remaining unchanged over the past week. Market sources indicate that import billet demand in Turkey has remained limited and Turkish importers are continuing to ask for discounts from CIS billet suppliers.