SteelOrbis has learned that ex-Ukraine billet offers for export are at the price level of $345-350/mt FOB Ukrainian ports.
Due to the weak demand for rebars and merchant bars in the Middle East and Europe, demand for billet is also weak. Steelmakers that produce from iron ore have been experiencing difficulties in decreasing their prices below certain levels. Meanwhile, some mills in Ukraine and Russia are sometimes reluctant to give offer prices since, with traders' offer prices not being accepted, they think that their prices may not gain acceptance.