After concluding at USD 510 per tonne FOB Black Sea in the previous week for the billets, the CIS producers withdrew offers at those levels from the market and started to attach higher levels in the beginning of last week.
At the beginning of last week most part of the mills has entered the market with USD 530 per tonne to USD 550 per tonne FOB Black Sea. It was heard that some deals were concluded in USD 525 per tonne to USD 535 per tonne range but most part of proposals were higher than USD 540 per tonne FOB Black Sea.
Finished longs follow the trend. It seems that a major Ukrainian steel mill sold some rebars at USD 580 per tonne to USD 590 pr tonne to Middle East. But it was also learnt that, at the same time, after quoting rebar at USD 580 per tonne to USD 590 per tonne, another Ukrainian steel major could not seal any deals for this price yet. In general, the last deals for this producer were at USD 570 per tonne FOB Black Sea for rebars and WR.
There was not much action in flat product market last week as many people are on vacations, but it seems that the market remained stable. While the Ukrainian HRC was priced at USD 540 per tonne to USD 565 per tonne, lower border of price of Russian HRC increased to USD 570 per tonne. In general the offers for Russian HRC were reported to be in USD 570 per tonne to USD 580 per tonne FOB Black Sea.