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Billet levels hold on complete bookings in November
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Saturday, 03 Nov 2012
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Billets market is stable for the time being.

All Ukrainian and Russian Mills are well booked for November production, having sold all quantities already 15 days ago below USD 500 per tonne, Fob Black Sea.

Billet price stabilized around USD 510 per tone with offers up to USD 515 per tonne to USD 520 per tonne FOB Black Sea, but without any availability. (www.steelprices-europe.com)

The demand is slow and from the trends of the last weeks it is clear that the market is missing strong drivers. However market is expected to warm up on opening on 5th November.

Italian buyers are bidding around EUR 420 per tonne delivered Brescia (USD 540 - 545 per tonne CFR FO or about USD 520 - 525 per tonne FOB), ready to eventually give a Euro 5 to 7 per tonne increase.

Source - Strategic Research Institute

(www.steelguru.com)

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