This week CIS square billet producers have been forced to cut their export prices to close their order books for April casting in Azov-Black Sea ports. In particular, Ukrainian and Russian material has been changing hands at $515-520/t FOB Azov-Black Sea. The Turks have been showing robust demand for CIS semis, only few suppliers have announced May prices. Meanwhile, the Far Eastern market is calm, deals on CIS material being signed occasionally.
Market players have reported contracts for Elektrostal''s April billet at $515/t FOB Mariupol, $10/t down week-on-week. Novorosmetall''s April semis have been sold at $517/t FOB Black Sea.
Besides, around 10,000 t of April billet from Evraz DMZ Petrovskogo has been marketed in Turkey at some $520/t FOB Black Sea ($536/t CFR Iskenderun), Metal Expert learns. However, the supplier delays announcement of new offers.
Byelorussian Steel Works opened sales of May casting on April 3, quoting $515/t FOB Odessa, 100% prepayment, to start with. The offer will remain valid until April 8.
Metinvest International S.A., who closed its April order book last week, is reportedly offering its May products to some destinations, officially quoting $520-525/t FOB Azov Sea ($575/t CFR Persian Gulf countries).
At the same time, ArcelorMittal Kryvyi Rih is yet to announce its official price for May square billet. Metalloinvest has not revealed prices for May output either.
As for the Far East, only one tender for sale of 10,000 t of April square billet has been closed by Amurmetal at $528/t FOB Vanino, $17/t below transaction prices of mid-March, Metal Expert learns. The second tender planned for this week has been moved to the middle of next week. Evraz is currently away from the market, as April volumes have already been sold out, while offering for May is yet to begin.
(Source: www.metalexpert-group.com )