Anticipated euphoria of grand revival in billet levels post holidays is fizzling away. It is reported that some Major Trading Companies are bidding at USD 585 per tonne to 590 per tonne FOB Black sea against offers of USD 610 per tonne.
Billets are learnt to have been sold in Egypt at USD 640 per tonne CFR FO, origin Black Sea. Discounting freight of USD 30 per tonne the FOB comes to USD 600 per tonne.
Even more depressive are the signs that mills, mainly Russian ones, will probably accept the proposals.
It is heard that the Russians have just recently quoted for flats. It seems that one of the major exporters has relocated export volume to the domestic market and increased price by USD 30 per tonne to USD 40 per tonne for HRC. Another Russian steel mill has already hike HRC offer for export to Turkey by USD 20 per tonne
ON the other hand, Ukrainian steel mills have so far not attempted any price hike, but in all likelihood Monday will be a different story
FOB Black Sea
| Item | Grade | Size | Change |
| Billets | 3-5 sp/ps | 125-150 mm | +5 |
| Rebars | A300C-A500C | 12-32 mm | +10 |
| Wire rod | mesh | 5.5-6.5 mm | +10 |
| HRC | ST1-ST3 kp/sp/ps | 2-8 mm | +5 |
| HRC | ST1-ST3 kp/sp/ps (Russian) | 2-8 mm | +40 |
| Plates | A36 | 8-30 mm | 0 |
| CRC | 08 kp (Ukrainian origin) | 0.5-1.5 mm | +20 |
| CRC | Russian origin | 0.5-1.5 mm | +10 |
Change is on Jan 13th as compared to 6th Jan 2012
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