Steel billet markets maintain their firmness

Thanks to the ongoing positive levels of steel billet demand in the Ukrainian steel market and following the conclusion of some transactions, Ukrainian steel producers' steel billet export offers have settled at $630-630/mt FOB this week. The full order books of the steel producers have again contributed to the strengthening of their steel billet offers. On the other hand, increased ex-CIS steel billet offers to the Far East have also helped strengthen the steel billet market. Some trading companies' offers to the Far East market for Russian origin steel billets have been at $670-675/mt CFR this week.
 
In the meantime, due to the slowdown of the Iranian steel market, steel billet prices at Russia's Caspian Sea ports have regressed below prices at Russia's Black Sea and Far Eastern ports.
 
In the Turkish steel market, ex-CIS steel billet offers have continued to remain at $630-640/mt CFR. Nevertheless, there has been only limited demand for these offers. Following last week's steel billet sales in Turkey's southern region at $620-630/mt ex-works, Turkish rolling mills, particularly those that produce rebar, are expected to suspend their bookings for a while because of tepid demand.
 
This week, Turkish mills' steel billet export offers have been at $630-640/mt FOB, while most of these offers are for shipments in April. Following Turkish mills' steel billet sales to the Far Eastern and Middle Eastern markets, offers below the abovementioned range are no longer available in the market.