As Ramadan draws to close on 31st August expectancy is creeping in the long product market. Billet and other long product prices exhibited relative confidence towards weekend.
Billet prices remained afloat at USD 680 per tonne to USD 685 per tonne FOB ST Black Sea level.
It learnt that Turkish buyers have recently concluded transactions at USD 695 per tonne CFR FO which is equivalent to USD 683 per tonne to USD 685 per tonne FOB discounting for USD 12 per tonne to USD 15 per tonne freight from Black Sea.
Polish Mills are offering billets at USD 650 per tonne FOB ST Gdansk Gdynia, however freight down to Black sea is off-setting price advantage.
( Source: www.steelguru.com )