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CIS Billet producers look for support beyond nearer markets

شناسه : 45695 ۲۸ فروردین ۱۴۰۰ - ۱۱:۳۰
Billet producers in CIS continued to seek support from other markets, as sales were limited at present due to unfavorable market conditions.
CIS Billet producers look for support beyond nearer markets
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CIS Billet producers selling material from the Black Sea basin continued to look for support outside nearer markets because buying activity there was limited by unfavorable market conditions.

“Turkish customers practically give no bids,” one trading source said, adding that softening scrap prices led to the negative sentiment in Turkish market.

*** steel scrap, HMS 1&2 (80:20 mix)

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $423.27 per tonne on Friday April 16, down by $0.02 day on day.
“The domestic market is not good in Turkey because of Ramadan [April 13-May 12],” a local re-rolling source told Fastmarkets.
“Import activities are limited,” another Turkish source told Fastmarkets.
Several market sources, however, reported a cargo of CIS-origin billet for wire rod production with increased vanadium content being sold to Turkey at $610 per tonne cfr, which would net back to around $580 per tonne fob for basic-grade material.
No other transactions were heard done at this destination over the past week.
Asked about demand in North Africa, market participants said it was “similarly quiet”.
In such conditions, CIS producers were looking for support in markets located further.

*** Ukraine-origin billet

Earlier this week a 30,000 tonnes billet cargo originating from Ukraine was sold to Dominican Republic at $650 per tonne cfr. Considering that the material was with increased manganese content, several market participants reported the price for basic grade within the range $600-605 per tonne fob, while one source said the basic-grade price would be slightly below $600 per tonne fob.
Market participants reported the same producing source was in negotiations with customers in Brazil and in the Philippines to sell material at $650 per tonne cfr to both destinations, but the seller did not confirm that the deals were finalized by the time of publication. The price on fob-basis was said to be around $600 per tonne fob by the market participants.

*** billet index

Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS was calculated at $596 per tonne on April 16, down by $4 per tonne day on day.
A Russian producer selling material from Far East ports of the country signed a contract for 50,000 tonnes of 5sp steel billet at $650 per tonne cfr Philippines earlier this week.
Interest in import billet from China was limited this week amid increased deliveries of foreign material as well as falling domestic prices.
Fastmarkets’ price assessment for steel billet domestic, exw Tangshan, Northern China was at 4,960 yuan ($759) per tonne on Friday, down by 100 yuan per from a week earlier.
Market participants reported most recent bids from China within the range of $635-640 per tonne cfr, which would net back to $590 per tonne fob Black Sea.

Reference metal bulletin

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