Turkey: Billet offers reduce for both domestic and exports purposes at $555-580/MT (Ex works) for December produced material and at $545-550/MT FOB mainly due to increase in scrap prices.
CIS: Suppliers lift Billet prices looking at Turkish offers by $10-15/MT to $510-520/MT FOB Mariupol ($540-545/MT CFR). For November shipment, offers from Black Sea stand at $510-520/MT FOB Black Sea. Though, sellers tried to close deals at high prices from Black Sea but it was not accepted by market.
Egypt: Offers from CIS and Turkey are around $540-545/MT CFR and $550-560/MT CFR respectively.
Iran: Domestic offers might reduce further as import prices are at $600/MT CFR Iran. During the last week a negative trend was seen in domestic prices due to inventory pressure and currency fluctuations. Presently, the exchange rate is around 33,000 to 34,000 Rials/USD. Import prices stand at an exchange rate of Rials25,250/USD.
UAE: Buyers can import Billet in the local market of UAE at prices quoted in the range of $570-575/MT CFR.
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