A price rise was achieved in a fresh contract for billet in CIS with a customer in Latin America, as had been expected earlier this week, Fastmarkets learnt on Friday November 13.
A 35,000-tonne cargo of Ukraine-origin billet was sold to Peru at $430 per tonne fob Black Sea. According to market participants, the material was of basic grade so no extra payments were included.
*** import activity in China
Optimism prevailed in the market this week and participants expected that higher prices might be achieved, especially in Latin America, North Africa or Southeast Asia. This followed the surge in import activity in China and rising scrap costs globally.
But the only confirmed fresh booking from the CIS was the one to Peru.
A customer in Algeria was looking to buy 30,000 tonnes of billet, of which 10,000 tonnes would be for wire rod production and the rest for rebar, but there were no reports that the tender was closed by the end of the week.
In Southeast Asia, the workable price for imported billet rose to $470 per tonne cfr from $455-460 per tonne early in the week, but no fresh CIS-origin cargoes were heard sold to the region.
The latest booking was done early this week to Indonesia, concerning a 30,000-tonne Russia-origin cargo of wire rod-grade billet at $465 per tonne cfr, which would net back to $425 per tonne fob Black Sea.
*** CIS-origin billet
In China, bids for CIS-origin billet varied within the range of $465-470 per tonne cfr late in the week, which would net back to $425-430 per tonne fob for Black Sea-origin cargoes.
Meanwhile, fresh offers from CIS mills were no lower than $430 per tonne fob. Some suppliers were even targeting $440 per tonne fob.
Russia-origin billet to be shipped from ports in the country’s Far East province was offered at $480-485 per tonne cfr in China.
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $430 per tonne fob on November 13, up by $5 per tonne day on day.
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