Exporters of CIS origin Billet have lifted exports prices by $4/MT FOB for importers based in Turkey.
The upsurge in raw material prices resulted in price rise of Billet in CIS countries despite weak buying interest of Turkish buyers.
A recent deal to Turkey was heard to be concluded at $555/MT CFR Marmara which stands at $4/MT more to $537/MT FOB Black Sea from Russian Billet producers.
The material was also sold out to buyers in Egypt at slightly higher prices by $5/MT, standing in the range of $560-570/MT CFR.
Steelmakers in Turkey are looking to get rid of the finished steel inventory at the moment, due to which trading volumes are low.
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