The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.
Export prices for steel billet from the Commonwealth of Independent States continued to climb over the week ended Wednesday July 29, with offers from mills being limited by the ending of the month.
Offer prices for exports of steel rebar and wire rod from the CIS region trended upward in the second half of July, with mills citing increased scrap costs and long steel prices in Turkey, but trading activity was limited amid thin demand in the majority of markets.
Export prices for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) went up in the week ended Tuesday May 28 on improved market sentiment.
Most global steel billet prices fell in the week ended Friday January 26, amid low trading and weak market sentiment.
While according to the upstream documents, steel production in Iran should reach 55 million tonnes in 2025, steel experts do not see these goals as realistic.
The prices of CIS-origin hot rolled coil (HRC) and cold rolled coil (CRC) have jumped by between $15 and $40 per tonne over the past week, as the region’s producers have raised their offers.
Offer prices for Russia-origin cold rolled (CR) sheet have widened upward over the past week by 1,400 roubles ($24) per tonne, while prices for hot rolled (HR) sheet have narrowed downward by less than half that amount, Metal Bulletin has heard.
CIS billet suppliers remain well-positioned on exports. With demand exceeding the supply producers did not face any difficulty in putting through further price increase this week.Strong scrap quotes and good fundamentals in the segment of longs in MENA are adding to positive sentiments.
Buying activity in the CIS billet export market has been limited over the past week, sources told Metal Bulletin on Monday May 29.