<span>CIS exporters of finished longs, who used to raise prices gradually, have started pushing them up faster this week. New leap is supported by the fact that Far Eastern buyers have been increasing purchases for the last two weeks, trying to secure enough stocks for the holiday period, and they have easily accepted the sellers’ rise by $10-20/t, implemented in mid-December. Currently, CIS producers have only the remainders of January material, so they intend to sell the rest at the highest prices. <br> As a result, offers have moved by up to $45/t in Azov-Black Sea basin. At the Caspian Sea ports, the raise has been much smaller – $10-15/t and it is reasonable since Iranian finished longs market is still weak. However, market participants report deals are made at prices almost equal to initial ones. <br> Finished products from the CIS (wire rod) became rather popular at the Far Eastern ports amid ongoing growth of Chinese material quotations. Philippine stockists are reportedly showing interest in purchases now. However, after a small lot (about 3,000 t) was sold at $615/t FOB, which meant $645/t C&F Metro Manila at the end of last–beginning of the current week, Russian traders took a break, unwilling to sell too cheap. Market operators believe so far that new prices will be set at $625/t FOB ($655/t C&F the Philippines); for comparison, the current Chinese offers are $680-690/t C&F. However, amid the rise in square billet quotations, traders predict prices may reach $635/t FOB. – source: <a href="http://www.metalexpert-group.com/"><u><font color="#0000ff" size="3" face="Times New Roman">www.metalexpert-group.com</font></u></a></span>