CIS billet offers for export

SteelOrbis has heard that CIS origin St 37 billets are being offered for export at $380-390/mt FOB Black Sea for June shipment. The rolling mills are even reluctant for offers at around $400/mt CFR Italy since the Italian market is quiet due to the long holidays in April. The activity in the US and Spanish market may cause merchant bar rolling mills, which are exporting to these countries, to direct their focus on import billets. On the other hand, the general activity in the Americas may accelerate the exports to these areas.