The CIS billet market has been quiet due to the holiday period in the region. The latest billet deal in Turkey from the CIS had been concluded at $525/mt CFR, while the most recent CIS billet export offers were hovering at $505-510/mt FOB. However, ex-CIS billet prices will likely drop to $500/mt FOB, as the softening trend in both scrap and iron ore prices has been putting downward pressure on billet prices in the region.
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