The export market for CIS steel products increased again in the week to Monday November 30 supported by long lead times and a global steel market uptrend.
*** CIS steel , price assessment for rebar
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $540 per tonne on Monday, up from $490 per tonne fob a week earlier. Offers for Russia-origin rebar increased to $540 per tonne fob from $490 per tonne fob last week.
“Turks [competitors of CIS longs exporters in the global market] are increasing prices, the Asian market is high, so it was predictable that CIS suppliers would follow,“ one trader said. “Lead times are in March already, that supports prices as well.” Wire rod offers from both Russia and Ukraine were reported at $600 per tonne fob. Meanwhile, a sale of Ukraine-origin wire rod was reported at $580 per tonne fob.
*** CIS steel , wire rod
Thus, Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS was $580-600 per tonne on Monday, up from $545-550 per tonne a week earlier.
*** Flat steel
Momentum in the Commonwealth of Independent States’ (CIS) export flat steel market carried over into the week to Monday November 30 on continued downstream demand to restock. Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $608-620 per tonne on Monday, up from $580-595 per tonne a week earlier. “Very low levels of inventory led some buyers to accept higher prices, especially those who can’t stop production,“ one supplier said. “And those, who buy material for re-rolling are also selling their products at very good prices.”
Offers of Russia-origin material appeared in the market at $615-620 per tonne early this week. Late on Monday, Fastmarkets heard of offers that went even higher – to $640 per tonne fob. Ukraine-origin HRC was on offer at $635-640 per tonne in the Middle East and North Africa region. That would be about $610 per tonne on a fob basis. Meanwhile, sales to North Africa were heard at about $608-610 per tonne fob. On late Monday, flat steel exporter from Ukraine increased offers of heavy coils to $690 per tonne cfr North Africa, or about $665 per tonne fob Black Sea. For light coil, the price is normally $10 per tonne lower.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob Black Sea, CIS was $655-660 per tonne on Monday, up from $625-635 per tonne a week before in line with a higher HRC market. Fastmarkets’ weekly price assessment for steel heavy plate, 8-50mm, export, fob Black Sea, CIS was at $575-595 per tonne on Monday, up from $550 per tonne last week.
Offers of Ukraine-origin plate were reported at about $595 per tonne fob. Meanwhile sources estimated the workable level at not higher than $575 per tonne fob. Offers for Russia-origin plate were heard at $565-575 per tonne fob, although the latest deals heard for CIS-origin steel plate were done at about $550 per tonne fob.
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