It is reported that Ukrainian steel mills have recently refused a bid of USD 485 per tonne FOB Odessa for 5000 tonnes of billets and are looking for USD 5 per tonne to USD 7 per tonne higher in their attempt to break USD 500 mark.
On the week opening the offers were at USD 480 per tonne to USD 490 per tonne although the highest levels achieved were USD 475 per tonne to USD 480 per tonne.
On the other hand, Turkish billets FOB offer level is about USD 500 per tonne to USD 505 per tonne. It seems that scrap prices are pushing billet levels up. As per report, European and US origin HMS 80:20 offers are in the range of USD 345 per tonne to USD 350 per tonne CNF Turkey.