Russian billet and long products exporters have started evaluating foreign markets following the holidays. The domestic demand remains weak during the winter season, but a favorable exchange rate is supporting exports. With Russia's temporary export duty expired as of 2025, mills are now considering discounts against firm bids or orders in export markets.
In Turkey, Kardemir sold 50,000 tonnes of billet domestically at reduced prices of $490/t ex-works, which translates to $455-465/t cfr for Russian imports. Russian mills are offering billet at $445-450/t fob Novorossiysk and are open to considering firm bids, with potential small price reductions. In Egypt, Russian mills have encountered better pricing, with bids being higher on an fob basis compared to Turkey.