The steel market at Black Sea remained on up word trend last week especially for long products.
Although not many confirmed transactions were heard, but offer price of billets from main players rose by about USD 10 per tonne as some companies argued that due to difficult weather conditions the availability became constrained. Restricted scrap availability is also playing a major role.
Similar situation was seen for finished longs. Prices of rebar and wire rods gained more as main player ArcelorMittal raised its export offers and offers form smaller mills are also reported to be in that range.
Although prices of flats prices did not see visible hike last week, working levels must increase in short time.
As the growth is mainly cost driven, market players are not confident of the duration of this positive trend.