Oman Daily Observer reported that the billet export prices from Russian and Ukrainian to the Middle East increased USD 20 per tonnes and last said that April purchasing price of billet was USD350 per tonnes to USD 360 per tonnes.
At beginning of this week, export quotation of the Commonwealth of Independent States increased USD 330 per tonnes to USD 340 per tonnes, while at that time purchasing price reported was USD 310 per tonnes to USD 320 per tonnes.
Middle East rolling mills has begun to import small amounts of CIS billets to supplement the inventory.
However, one trader from Dubai said that "it is not the time for purchasing goods and we still have a lot of inventory, which is estimated to last till the end of April."