It seems that CIS billets producers haven’t succeeded in the price increase and quotations rolled back to USD 560 per tonne to USD 570 per tonne FOB Black Sea.
The process is still in progress, so it is not really obvious if the range is going to be kept or will deep more. Producers are trying to defend their positions.
Such dynamics of semis segment has seriously hurt finished longs market. The issue is that in the beginning of last week demand had started picking up with rebar offers going up to USD 620 per tonne to USD 640 per tonne FOB from Black and Caspian sea ports. But negative billet trends produced uncertainty and brought buyers back to wait and see mode.
Now the main players offer rebars for about USD 600 per tonne, WRC is a little bit higher with up to USD 615 per tonne to USD 620 per tonne.
The finished flats market looks more optimistic. It seems that October order books are largely closed by all biggest producers. The Ukrainian mills offer HRC for around USD 600 per tonne to USD 620 per tonne FOB Black Sea. But we have also heard about tube quality shipments to Turkey at USD 595 per tonne to USD 600 per tonne on CFR basis. The Russian producers are trying to sell HR for about USD 650 per tonne FOB Black Sea.