The steel market situation at Black Sea last week can be described as moderate optimistic with demand although not too good but existent allowing steel mills to books orders for December, thus supporting mills efforts to increase prices.
Most part of producers offered billets for USD 555 pr tonne to USD 575 pr tonne FOB Black Sea, which was USD 10 per tonne to USD 15 per tonne higher than previous week. Concluded deals were at about USD 560 per tonne.
Extremely warm weather conditions in the region in October-November supported domestic demand and prices for finished longs. Rebars for exports were offered at USD 575 per tonne to USD 600 per tonne and WRC for USD 590 per tonne to USD 600 pr tonne. But we have heard of some deals below indicated levels also last week but primarily for random lengths.
Situation for finished flats gained some optimism after good contracting for December. The Ukrainian mills were selling HRC in range of USD 560 per tonne to USD 590 per tonne whereas the Russians mills pegged their offers at USD 590 per tonne to USD 605 per tonne. After booking of most part of December volumes price offers have been increased by further USD 10 per tonne and are now USD 600 per tonne for Ukrainian and USD 615 per tonne for Russian material.
FOB Black Sea
| Item | Grade | Size | Change |
| Billets | 3-5 sp/ps | 125-150 mm | 15 |
| Rebars | A300C-A500C | 12-32 mm | 25 |
| Wire rod | mesh | 5.5-6.5 mm | 20 |
| HRC | ST1-ST3 kp/sp/ps | 2-8 mm | 20 |
| HRC | ST1-ST3 kp/sp/ps (Russian) | 2-8 mm | 10 |
| Plates | A36 | 8-30 mm | 5 |
| CRC | 08 kp (Ukrainian origin) | 0.5-1.5 mm | 20 |
| CRC | Russian origin | 0.5-1.5 mm | 10 |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
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