It is observed that demand for ex-CIS billet exports have been at low levels over the past week. Market sources state that some CIS-based billet exporters have filled their order books for October output, while the billet export offers of the other exporters are at $475-480/mt FOB. However, due to international competition, CIS-based suppliers are providing $5-10/mt discounts depending on tonnage.
Meanwhile, trading activity for long steel in Egypt is weak, and so Egypt’s demand for billet is also slack. It is observed that ex-CIS billet offers to Egypt are in the range of $490-500/mt CFR.