CIS billet exporters have cut offer prices to Turkish
re-rollers and traders to compete with local suppliers which
can supply small tonnages with short lead times.
Offer prices for CIS billet have been quoted this week at
$625-630 per tonne cfr Turkey for May production and delivery.
The latest reported deal was booked at $630-640 per tonne cfr
in mid-April, according to Turkish market sources.
"CIS mills have lowered their export prices to $620-625 per
tonne cfr Turkey. Demand for billet in the domestic market
remains weak," a source from a Turkish merchant bar producer
Russian and Ukrainian billet exporters have been selling this
week at $600-610 per tonne fob Black Sea, unchanged from deals
concluded last week.
Sales have slowed on weak demand from re-rollers and traders in
the Middle East and North Africa (Mena) region.
CIS billet exporters have been struggling to secure sales from
consumers in Turkey due to lacklustre demand.
Buyers prefer to take small tonnages from local suppliers which
can supply billet at short lead times.
Billet has been changing hands in Turkey at $625-635 per tonne
exw, depending on the location of the mill, for May rolling and
shipment, Turkish market participants told Metal Bulletin.
"Re-rollers prefer to buy from domestic billet suppliers as
they can deliver in a few days," a trader in Istanbul said.