The steel market exhibited signs of price recovery in longs and a major surge for flat products, especially of Russian origin.
Steel billet prices remained unchanged WoW, as producers see the situation more positive and probably we will see some up moves due to withdrawal of stocks in the Black Sea ports.
On the other hand, finished longs dynamics, after some low prices supplies, generally gained last week. Instead of following of billet negative trends regional producers are trying to limit supplies and focus on more expensive directions.
But the major activity was reported in HR and CR as producers of flat products were trying to push prices up. HRC from Ukraine was being quoted at levels higher by USD 40 per tonne to USD 50 per tonne and from Russia higher by USD 60 per tonne to USD 70 per tonne. Similar upward movement was seen in case of CR.
However, it is not clear yet that to what extent the price increase will be accepted buyers. It is generally rumored that prices, especially for the Russian material, are too high now.
(Source: www.steelguru.com )