It is reported that in the end of October beginning of November prices for Russian and Ukrainian billets increased a bit, coming to the level of USD 390 per tonne to USD 400 FOB per tonne in comparison to USD 380 FOB per tonne to USD 390 FOB per tonne in the mid October.
This increase didn’t met an opposition from semis consumers in Turkey local mills used rise for billet to lift their rebar prices from previous USD 445 FOB per tonne to USD 455 FOB per tonne to USD 450 FOB per tonne to USD 465 FOB per tonne.
But working levels of price have again reduced by about USD 10 per tonne to USD 15 per tonne this week. Although sellers are quoting USD 390 per tonne to USD 400 per tonne FOB levels, there are proposals at lower levels close to USD 380USD per tonne.
Taking into account the current state of demand we think that “offer” price indication will come closer to current “Low”.
As well as general outlook looks quite negative, surely in terms of general trend, not a rapid fall down.
The same situation is for finished longs that lost USD 10 per tonne too. The most part of local producers now offer rebars for export at USD 430 per tonne to USD 440 per tonne and WRC at USD 440 per tonne to USD 450 per tonne on FOB basis. (steelprices-india.com)
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