CIS-based producers have been able to increase billet prices in deals to Europe and Africa, though overall contract volumes have been limited. The Asian market is still in focus for exporters.
About 10,000 mt of ex-Ukraine billet has been traded at close to $350/mt FOB Black Sea to Italy, SteelOrbis has learned. Moreover, 6,000-8,000 mt of Russian billet was traded to the same country at the price equivalent to $345/mt FOB late last week.
A contract for 10,000 mt to East Africa has been done also at $350/mt FOB Black Sea. But overall demand ın Africa has yet to resume. Offers to North Africa have been mostly at $370-375/mt CFR ($350-355/mt FOB Black Sea), but with no new deals reported so far.
Market sources have said that the focus is still on the Asian market, but buyers have been resisting further price increases, with the latest bookings from Ukraine at $375/mt CFR, as reported earlier.
The SteelOrbis daily reference price has increased from $340-345/mt FOB to $345/mt FOB.