CIS mills cut billet export offers to Turkey in order to compete with China Resources. However, due to a weaker dollar against the Turkish lira after the election, the buyer purchasing activity is still slow.

The latest CIS billet export offers to Turkey quoted at USD370-375 / ton (CFR), compared to the previous price down by USD10 / ton. Chinese billet offers also fell by USD5/mt to USD355-360 / ton (CFR).

Market participants said that if scrap prices remain strong, then imported billet would likely be more attractive.

                                                                     XINSTEEL NEWS