CIS origin 3SP-5SP billets are currently being offered for export at $690/mt FOB Black Sea and above for April shipments.
The CIS producers' expectations are considerably optimistic following the announcement of the increases in the international iron ore prices for 2008. It has been heard that some sales have been concluded at the price level of $680/mt FOB. On the other hand, some producers, thinking that the Southeastern Asian and Far East Asian markets in particular are likely to gain momentum due to the iron ore price rises in question, are not willing to show interest in firm bids at the level of $680-685/mt FOB.