Ukrainian billet offers for export

Ukrainian mills are offering billet for export at $485-490/mt FOB Black Sea for April shipments. Russian billet offers are higher than the Ukrainian offers, being in the range of $495-500/mt FOB. The higher billet prices in Turkey and the CIS have whetted the appetite of the Brazilians. According to reports, in late January sales were concluded to Morocco at $515/mt CFR from Brazil. However, Brazil does not appear to have advanced far into the Mediterranean. Furthermore, the revival of the US market may cause the Brazilians to focus on this market.