It is reported that CIS export market trends this week for billets and longs ended with gains thus reversing negative trend in previous two weeks.
As per market reports, steel billet prices gained USD 5 per tonne to USD 20 per tonne, with some producers trying to push to the higher levels. Although, market was more active than a week ago but the May production volume for almost all suppliers seems to be not allocated yet, which could put pressure again on sellers in coming week.
On the other hand finished longs prices, more or less, maintained the previous weeks’ trends. It appears that demand for rebar is comparatively weak while WR production seems to be almost fully booked for May.
The CIS export market is entering the period of Easter/May holidays. It is expected to return to normal operational mode on May 10th 2011.
( source: www.steelguru.com )