Generally the market was quite last week but market players remained optimistic.
These optimistic sentiments are arising out of producers look forward for September when the Ramadan will end in Muslim countries and generally market is expected to be more active after more activities after summer vacations. They are hopeful that there would be a surge in demand as players start to replenish their stocks after returning.
Offers of billets further increased by about USD 5 per tonne to USD 10 per tonne.
Despite sluggish demand, rebars and wire rods also got more expensive last week by at least USD 10 per tonne.
Finished flats remained stable last week. This is not “usual” pricing practice, but market is still influenced by “transition period” of Ukrainian mills.
To know the prevailing levels, please subscribe to our services and you will know the real prices of steel FOB Black Sea on real time basis.