CIS steel billet market remained firm over the week to April 23 due to the recovery of demand from market participants in Latin America and Asia, sources said.
CIS mills continued to ask for a minimum of $600 per tonne fob Black Sea for June-shipment material, sources said.
At least one cargo was heard sold to Latin America, with market participants reporting a sale of 10,000 tonnes of Russia-origin billet to El Salvador at $670 per tonne cfr, which nets back to around $600 per tonne fob, sources said.
There was also some recovery in demand from market participants in Asian region as well after a quiet beginning to the week, Fastmarkets was told.
*** Restrictions in Tangshan
There were concerns that recent restrictions on re-rolling mills in Tangshan – China’s major production hub – would lead to lower demand for billet and, therefore, affect prices, sources said.
Despite that, 30,000-40,000 tonnes of Russia-origin billet – to be shipped from the Far East ports of the country – were heard sold to China at around $650 per tonne cfr against bids at $635-640 per tonne cfr at the beginning of the week.
A similar recovery in demand was also reported in Turkey after steel scrap prices improved in the middle of the week, sources said.
*** daily index for 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 $425.52 per tonne on Wednesday April 21, up by $9.27 per tonne day on day. The index dropped to $424.65 per tonne by Friday, but was still $1.38-per-tonne higher in a week-on-week comparison.
Some market participants reported bids from this destination at $580-590 cfr ($560-570 fob) per tonne while there was also market chatter about two sales done to the Karabuk and Izmir regions at $600 per tonne cfr and $605 per tonne cfr – equivalent to $580-585 per tonne fob Black Sea.
The information about the deals could not be widely confirmed by the time of publication, however.
Customers from North Africa, particularly Tunisia, were also interested in imported material and were after a price of $600 per tonne cfr ($570-575 per tonne fob), which was not acceptable for producers in the CIS.
*** daily steel billet index
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS was stable day on day at $598 per tonne on April 23.
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