It is reported that the price rally continued this week and most of products added up to $100 per ton bringing back the memories of first half of 2008.
Most CIS billets producers had in mind a price idea of $540 per ton to $550 per ton FOB Black Sea when the week started but even to their surprise just in 5 days offers climbed to $595 per ton to $600 per ton FOB
As per market players, these levels are likely to be accepted in the coming week.
It is learnt that rebars from Ukraine, namely from ArcelorMittal Kriviy Rih, were offered at a price not lower than $ 620 per ton FOB ST Black Sea.
But the situation on the market is quite strange. There is a demand, but April production seems to be allocated and producers do not hurry to offer May watching billets dynamics. So, the indicated level of $620 per ton is quite theoretical and there are just no volumes.
All increases have been determined by the run of the raw materials, with scrap acting as front runner. Prices in Turkey have reached the $450 per ton CFR FO and are still edging up targeting the $500 per ton. Buyers are actively trying to buy as much quantities as possible in the attempt of anticipating further increases. (Steelprices-Europe)
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