It seems that CIS producers are trying to realize price increase scenarios.
Offer prices for billets rose up to USD 465 per tonne to USD 475 per tonne FOB Black Sea but some actual deals were heard at USD 460 per tonne to USD 465 per tonne levels.
Basically, the situation is quite comprehensive.
On one hand, price “adjustments” are aimed to reach the levels already achieved at other markets (Caspian Sea, for instance), on other - CIS producers are too close to offers from Turkey and Europe.
No any special patterns for longs as they are just following semis.
For finished flats the market conjuncture is basically better and general trend is similar.
The Russian players announced price increase for HRC and now are trying market at USD 580 per tonne to USD 590 per tonne FOB Black Sea. Statistically Ukrainian material is in the same range as previous week, but maybe due to lack of information/actual market offers
The somber mood in the flat market has been audaciously displayed with MMK keeping mysteriously silent on the HRC prices in August for Europe.
Hallucination about a possible flurry in buying before Ramadan are likely to vanish soon as the mood remains negative and chances of new purchase remote. On the contrary traders, stockiest and distributors are likely to postpone buying after the holidays taking the cue of inactivity.