This week the political uncertainties in the
Middle East and North Africa (MENA) region have continued and demand in the billet markets has remained weak.
In the
CIS billet market, there has been upward movement in traders' offers this week. Billet export offers from traders in the
CIS have now reached $600-605/mt FOB for May shipment. Furthermore, the price level for
CIS billets to
Turkey stands at $615-620/mt CFR.
Billet offer levels from the
CIS to
Iran are observed to be strong in line with the expected increasing trend in demand with the return from the Iranian New Year holidays. Therefore, billets for May production and June shipment of Russian origin are offered at $630-640/mt CFR.
Turkish producers have filled their order books for May shipment. For June billet shipment, offers for exports are given at $630-635/mt FOB and there are also offers above this level. However, as per information SteelOrbis has obtained, no demand has been received so far at these price levels and buyers are currently approaching these offers with caution.
Turkey's domestic market appear to be joining the upward trend in billet prices. Due to the current tight supply of billets, Turkish domestic price levels stand at $630-635/mt ex-works.