It is reported that the prices of billets FOB Black Sea came under severe pressure last week and witnessed USD 15 per tonne reduction.
Producers tries to keep levels of USD 340 per tonne to USD 350 per tonne but on the very beginning of current week it was reported that buyers are pushing prices downwards to USD 320 per tonne to USD 330 per tonne FOB levels. It seems that there were some deals at USD 325 per tonne FOB levels.
Thus, the expectations are not positive and prices may deep further. As per market reports buyers are already throwing USD 300 per tonne to USD 310 per tonne numbers to progress in their aim of USD 370 per tonne FOB or USD 300 per tonne CFR levels.