CIS billet market exported via the Black Sea continued to move up this week on the back of a new deal for wire-rod grade material to Turkey on Tuesday, December 22.
*** CIS billet market , Russian and Ukrainian suppliers
Billet offers from Russian and Ukrainian suppliers were heard at $۵۸۰-۶۰۵ per tonne fob Black Sea on Tuesday, little changed from Monday.
Turkey remained the major consumer of steel billet originating in the CIS, but most recent deals have been for wire-rod grade semis, sources told Fastmarkets.
One Ukrainian supplier was heard to have sold 10,000 tonnes of wire-rod grade billet for February shipment to a Turkey-based re-roller earlier this week or late last week at $590 per tonne fob, several sources said.
At the same time, most trading companies have reportedly stepped back from making purchases because of being unable to keep pace with surging prices,
Offers of billet from a Russian supplier to be shipped from the country’s Far Eastern province to Southeast Asian countries were heard at $600 per tonne cfr, which would net back to around $560 per tonne fob Black Sea. However, the producer could only offer April shipment, according to sources.
*** China’s rebar
“No bookings have been done at this level yet, but $600 per tonne cfr is a workable level for Southeast Asia now, considering surging prices in China,” one mill source said.
Particularly, China’s domestic rebar price rose sharply on Friday and has continued to move up this week, reaching their highest point in three years on December 22.
As a result, Fastmarkets’ daily steel CIS billet market index, export, fob Black Sea, CIS increased by $8 to $577 per tonne on Tuesday up from $569 per tonne on Monday. The index was also up by $32 per tonne week on week and by $104 per tonne month on month.
The upward momentum in the CIS billet export market is expected to continue into the first quarter of 2021, especially with the extending lead times and fast-rising feedstock prices, sources said.
*** index for steel scrap
Turkish buyers in particular continued to pay higher prices for steel scrap this week, with Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey calculated at $462.78 per tonne on Tuesday December 22, up by $4.90 per tonne day on day. The index was also up by $42.39 per tonne week on week and by $130.59 per tonne month on month.
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