The export market for CIS steel products went up in the week to Monday November 23 on a generally positive mood in the global steel market and higher prices for steel billet feedstock. The export price for steel slab from the Commonwealth of Independent States (CIS) went up during the week to Monday November 23, mainly on a huge upswing in prices for hot-rolled coil, Fastmarkets heard.
*** price assessment for steel slab
Fastmarkets’ weekly price assessment for steel slab, export, fob Black Sea, CIS, was $485-495 per tonne on November 23, up by $25 per tonne from $460-470 per tonne fob a week earlier.
Slabs offers were heard in Italy at $505-515 per tonne cfr, equivalent to about $485-495 per tonne fob Black Sea. That was up from about $460-470 per tonne fob last week.
“When HRC prices go up, suppliers always try to push slab prices up as well,” one source said. The semi-finished material is the feedstock for HRC production.
*** hot-rolled coil
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $580-595 per tonne on November 23, jumping by $60-65 per tonne from $۵۲۰-۵۳۰ per tonne a week earlier.
In Turkey, no new slab offers were reported. But one source expected that Russian suppliers would come back to the market with slab offers at about $540-550 per tonne cfr, close to $525-530 per tonne fob, considering the standard $60-per-tonne gap between slab and HRC prices.
Meanwhile, Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey, was $630-650 per tonne on November 20, surging by $65-80 per tonne from $565-570 per tonne on November 13 on low inventory levels among buyers in the EU.
*** CIS long steel , rebar
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS, was $490 per tonne on November 23, up from $465-468 per tonne fob a week earlier.
Offers of Russia-origin rebar increased to $490 per tonne fob from $468-470 per tonne fob earlier in November.
“This week, all the markets went crazy. Prices skyrocketed,” one trader said. “[The price for] billet went up by $40 per tonne. That is pushing rebar prices up and I’m sure that it is not the end – the rebar price will go up again.”
*** CIS long steel , billet
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was calculated at $473 per tonne on Monday, up by $37 per tonne week on week compared with $436 per tonne on November 16.
No offers of Ukraine-origin rebar were heard, but sources reported a sale of wire rod from Ukraine at $545-550 per tonne fob.
The latest offers of wire rod from Russia were reported at $545 per tonne fob, up from $515 per tonne fob Black Sea in the first half of November.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS, was $545-550 per tonne on November 23, up from $530-534 per tonne a week earlier.
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