Though some deals concluded in the range of $550-555 FOB Black/Azov Sea in the begining of July, CIS Billet price from Azov-Black Sea port might show some correction due to the following:
1. Stabilizing scrap prices at Turkey
2. Some buyers in Middle East and North Africa are ready to make purchases but at discount of $5-10/t.
3. In Middle East and North Africa, Billet is being offered at lower prices from South Africa.
Some of the manufacturers hold bookings and wait for markets to show further direction.
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