What are expectations for October output CIS billet export offers?

Wednesday, 18 September 2013 13:40:45 (GMT+3)   |   Istanbul
According to market sources, ex-CIS billet sales for September output have closed in the Middle East and North Africa (MENA) region at $490-500/mt FOB. CIS billet export offers for October production will likely remain at these levels. There is no reason for CIS offers to decline as the trading volume in the MENA region is decent and the offers are already at bottom levels.

On the other hand, CIS billet offers to Turkey are still in the range of $510-515/mt CFR, indicating no changes since last week. Market sources confirm that ex-CIS billet deals have been concluded at these levels in the local Turkish market, while import scrap prices are unlikely to record sharp decreases, and this will  help prevent CIS billet offers from declining.

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.   

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