<span>The situation in the market for square billet has improved, as CIS exporters expected. The suppliers have not only made sales of July output but also lifted their quotations in the Azov-Black Sea region owing to an upturn in business activity of Middle Eastern buyers and traders. Conditions in the Caspian segment have also improved on firmer demand of traders, enabling suppliers to prevent a fall in prices. Nevertheless, Asian buyers' activity has somewhat slackened, although it has been quite lively lately. However, Russian mills have not yet reflected that in their offers. <br> Noteworthy, CIS suppliers in the Azov-Black Sea region have increased sales and hiked their prices after a long stagnation. They have made use of the recent pick-up in Turkish exporters' demand. The latter have started purchasing import semis and lifted export quotations of square billet and finished products owing to an upturn in demand for longs in the Turkish domestic market. Turkish semis are reportedly quoted to foreign markets at $685-695/t FOB ($20-25/t up w-o-w). <br> Whereas in late June there were offers of CIS billet at $645/t FOB Azov/Black Sea, the lowest level of early July is $650/t FOB. The latest deals for July output have reportedly been signed at $650-660/t FOB, with August production selling at $660/t FOB and more. Particularly, market players say Elektrostal has recently managed to sell 5,000 t of square billet to be manufactured in August at $685/t FOB Mariupol, which obviously differs from the current market levels. <br> Belarus SW has made another remarkable revision: the company started selling August output on July 4 at prices higher by $36/t than those in the latest contracts for July output of billet. However, traders believe the supplier will have to give at least $30/t discounts. <br> CIS billet exporters in the Caspian region have managed to sell most of July production of semis owing to an upturn in activity of traders, who have decided to open long positions. At the same time, Iranian buyers remain in wait-and-see mode, because their national currency is unstable. <br> Volga-FEST's and REMZ's July casting has been sold to Iran at $650-655/t FOB Astrakhan, while August output will be offered in mid-July. <br> Kazakhstan’s Casting is in the process of negotiating, having sold the major part of July billet at $645/t CPT ($655/t FOB) Aktau. Metal Expert learns buyers insist on $5-10/t discounts, yet the supplier is inflexible. <br> Nevertheless, market players hope demand for semis will improve in the short term, since Iranian customers have been cautious for a long time. <br> At the same time, suppliers in the Far Eastern ports still feel confident despite the fact that buying activity has somewhat declined and mills’ export quotations of billet have dropped in the region. This is due to the fact that suppliers offer August material already, while their Asian counterparts still sell July casting. Demand for square billet to be delivered in September is much stronger, as the post-rainy season revival of construction activity is expected in the region at that time. So, Evraz Holding still keeps square billet offers unchanged w-o-w – at $660/t FOB. <br> ( Source: <a href="http://www.metalexpert-group.com/"><span><font size="3" face="Times New Roman">www.metalexpert-group.com</font></span></a> )</span>