There has been market chatter that one of the leading Russian mills in the country’s Far East region closed a deal for 30,000 mt of billets to Asia last week at the price below $500/mt CFR, below that offered by Chinese or ASEAN-based suppliers. In particular, market sources in Thailand have said that early last week the abovementioned volume changed hands at $490/mt CFR, but it was for the mix of 100 mm and 150 mm billets and for prompt shipment. “This was done via a Chinese trader for the cargo they needed to push,” a market source commented to SteelOrbis.
“I doubt if they [the Russian mill] can provide such a low level again,” another source said, mentioning the seven percent export tax and high raw material prices.
As for the 150 mm billet offers from Russia for November-December shipment, the price is assessed at $505-510/mt CFR Taiwan, according to sources.
The SteelOrbis reference price for 130-150 mm billet in Southeast Asia settled at $510/mt CFR on average last week, reflecting the tradable level for non-sanctioned EAF/BOF billets, mainly for Asian origins.