CIS billets prices fell to $ 416.5 a barrel, while suppliers are trying to compete with Turkish prices to export to Saudi Arabia.
Saudi Arabia bought a large shipment of CHF 445 for a CFR of Jeddah equivalent to $ 420 for FOB Turkey, while demand for BILT CIS from Egypt and Egypt is low, and Saudi Arabia needs a low domestic scrap with a price of $ 347. Imports Billet.
The price of imported scrap from Turkey is less than $ 290, which has fallen by $ 10, but the margin of profit for steel makers is still negligible.
The price of CIS slabs fell to $ 450 a barrel of $ 4bn Black Sea Foob, with demand weakness in Turkey and Europe, as well as falling flat product prices. Although Russia and Ukraine did not make a serious proposal for July.
*** Production of slabs on the agenda of the steelmakers in Turkey
The elections in Turkey and the depreciation of the lira along with the drop in the price of imported scrap have led Turkish steelmakers to prefer slab production to its imports.
However, due to Ramadan, barley transactions have been limited, but the export of 40,000 tonnes of rebar from Oman to Saudi Arabia for $ 587 was delivered to the customer, while Saudi Arabia's rebate for rebar is $ 640 per tonne. The UAE also offers rebar at $ 517 to $ 546 at the factory.
Indian billet is offered to Emirates $ 450 Jebel Ali, while Target and target buyers are $ 440. Billet CIS offers $ 450 to $ 455 CFR.
Turkey's exports to Turkey increased by 213,000 tonnes in March. Yemen, the largest buyer in Turkey, has 49,500 tons and Europe 36,000 tons, while the United States has 12,000 tons of Turkish imports. Peru, Panama and Romania are other export destinations of Turkey.
The price of a hot plate in the CIS is around $ 480, and a cold crunch of $ 540, and there is a likely drop in prices in July.
In China, export prices have dropped slightly, and after declaring US tariffs, buyers are asking for lower prices.
Exporters of Indian pellets predict that the price of pellets in June was $ 128 to $ 130, while the last deals were $ 64 per barrel of $ 126.
The demand for Indian pellets from China continues, and the Essel Mining plant will add one million tons of cadmium 65 capacity to below 2 percent alumina by the end of this year.
Indians use Brazil and South Africa to produce low-almond pellets, and recently Kiocl has contracted to sell 500,000 tons of billets to the United Arab Emirates.
Keyvan Jafari Tehrani