CIS origin 3SP-5SP billets are currently being offered for export at $750/mt and above FOB Black Sea for late April shipments.
The CIS producers continue to raise their prices rapidly. The fast rising ex-CIS prices have, in particular, been causing uneasiness among buyers in the Mediterranean markets. On the other hand, the Far East market is still strong, while the buyers from this market are willing to make purchases at price levels of up to $800/mt CFR. However, the buyers in question are also somewhat worried due to the rate of increase of prices.