The export price for CIS billet continued to climb in deals to Turkey and Southeast Asia, with producers keeping offer prices high due to shortages of material, sources told Fastmarkets on Monday November 30.
*** CIS billet
Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS increased to $483 per tonne on Monday from $475 per tonne on Friday.
The index was based on deals, offers and achievable prices heard in the market.
CIS producers were said to be largely sold out for January shipment, sources told Fastmarkets, and were not in a hurry to sell volumes for February shipment.
Billet offers were heard at $500-510 per tonne fob Black Sea from Russian suppliers, according to market sources. Some producers from Ukraine were still offering billet at $490 per tonne fob, but sources said they were expecting “to receive higher offers this week.”
The positive sentiment prevailed in the market, considering good order books at producers and consequently decreasing availability of billets, sources said.
“Mills should not be in a hurry to sell, while buyers try to secure tonnages, expecting new rises in December,” one trader said.
***wire rod-grade billet
A 10,000 tonne wire rod-grade CIS billet cargo originating in Russia was heard booked to Izmir, Turkey, late last week at $509 per tonne cfr, which would net back to about $495 per tonne fob Black Sea.
After the index was published, a 20,000 tonne cargo of CIS-origin billets was heard sold to Izmir at about $508 per tonne cfr, which would net back to about $496-498 per tonne fob Black Sea, sources said. No extra payment was involved.
This week a small cargo of steel billet originating in Russia was heard booked at $503 fob to Turkey, but it was not clear at the point of publication if the deal involved any extra payments.
Last week, a booking of billet cargoes totaling about 35,000-40,000 tonnes were heard sold to Southeast Asia at about $510 per tonne cfr from Russia’s Far Eastern port, which would net back to $470 fob had the cargoes being sold from Black Sea.
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