In the first week after the winter vacation Russian mills made valiant attempts push price hikes by offering billets for USD 650 per tonne, FOB Novo.

However without any response they were soon forced to retrace to USD 615 per tonne. Surprisingly even at these levels there was no interest.

Black Sea suppliers were more pragmatic looking for USD 620 per tonne ready to negotiate down to USD 610 per tonne but again without much interest.

Italian mills are asking for USD 630 per tonne FOB without any takers.

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