The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.
Domestic rebar producers in Moscow have withdrawn their bids for January, as prices are expected to rise further.
Domestic suppliers of flat steel around Moscow were up in the week ending December 21.
The export pig iron in CIS went up again during the week to Thursday December 10 on a shortage of material with further increases expected, according to market sources.
The export price of CIS slabs increased in the week ending December 7 with new sales and a good hot plate market.
Flat steel prices in the Turkish market continue to rise during the week until December 4 as demand increases.
The market for exports of long steel products from CIS countries rose again in the week ending November 30, supported by the upward trend in the global steel market.
The price of cast iron exports from the CIS countries increased again during the week ending December 3 with new sales to the market.
The CIS billet export market calmed down in early December due to differences between factory and customer offers.
CIS billet export prices continued to rise in Turkey and Southeast Asia, with manufacturers keeping their bids high due to material shortages.
Billet manufacturers in the CIS countries are seeking to raise prices due to the hot international market for raw materials, despite limited purchases.