Last week, CIS has slashed the offer price of billet to the market at about US$360~380/ton FOB except for Gulf market.

Moreover, Turkish mills indicated that if the price could be down to US$340~350/ton FOB by CIS, they might consider purchasing.

So far, the offer price of billet to gulf market released by CIS is about US$420/ton CIF. On the other hand, it is reported that the quotation of billet to Arabian Peninsula released from Brazil is around US$403~410/ton CIF.

SOURCE:YIEH.COM