The current tendency, where prices of all products increased during last week, defies estimates and seems to be based on perception of the market swinging to a feel good factor as the stimulus packages blossom and scrap prices soar.
Billet prices have shown improvement week on week by another USD 10 per tonne to USD 30 per tonne. The rise was seen in down stream rebar and wire rods as well. We heard that buyers are resisting increase and due to lack of demand, some discounts are available.
The main reason is reported to be bullish scrap market and the unlikelihood for scrap prices to go lower. Market sources also connect it with rise of demand for rebars and wire rod in the countries of SE Asia and China. Also some buyers from the countries of the Middle East have decided to make purchases before leaving for Ramadan holyday, which also supported the rise of prices.
Flat producers are seems to be well booked, amid restricted availability, and thus are able to get higher prices
| Item | Grade | Size | Change |
| Billets | 3-5 sp/ps | 125-150 mm | 30 |
| Rebars | A300C-A500C | 12-32 mm | 20 |
| Wire rod | mesh | 5.5-6.5 mm | 20 |
| HRC | ST1-ST3 kp/sp/ps | 2-8 mm | 30 |
| HRC | ST1-ST3 kp/sp/ps (Russian) | 2-8 mm | 20 |
| Plates | A36 | 8-30 mm | 10 |
| CRC | 08 kp (Ukrainian) | 0.5-1.5 mm | 30 |
| CRC | Russian origin | 0.5-1.5 mm | 30 |
Change is on August 14th 2009 as compared to August 7th 2009
Change is in USD per tonne
Delivery FOB Black sea
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(Sourced from www.steelprices-india.com)
