The export market of steel products at Black Sea looked better last week.
It seems that billets prices have stabilized with most of producers offering at USD 450 per tonne to USD 460 per tonne FOB Black Sea. But we have heard that traders sometimes ask for small lots a little bit lower ie USD 440 per tonne to USD 450 per tonne.
Semis dynamics kept rebar and WRC levels also at bay. Despite weak demand the March volumes seems to be allocated and prices are offered for April production. We understood that for prompt shipments prices can be higher
For finished flats March bookings seems to be totally closed, quite quickly. Therefore both Russian and Ukrainian steel mills have started asking for higher prices for HR
Ilyich - USD 530 per tonne to USD 540 per tonne FOB
Zapro - USD 540 per tonne to USD 550 per tonne
Russians - USD 570 per tonne to USD 600 per tonne
However consumption and demand are still gloomy which is shading a big cloud over the optimism that seems general in the market.