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Monday Market Monitor - CIS (WEEK 15) - Signs of stability- 20 Apr 10

After 6 weeks of hectic activity, billet market seems to have stabilized this week as their prices rolled down a little bit but kept the levels in general.

The sellers’ idea of price is closer to USD 625 per tonne to USD 640 per tonne with buyers looking at USD 600 per tonne to 620 per tonne. Generally we understood that the market is around USD 610 per tonne to USD 630 per tonne.

It is reported that the buying was quite limited in terms of quantities and May volumes are not fully allocated yet.

Unconfirmed reports also pointed out that scrap prices in the region have started to cool down a bit.

It is reported that FOB Black Sea prices for finished longs jumped up this week.

Although the market is not strong at all but producers expect more active purchasing from end users.

WE have heard that a Ukrainian long major has some problems with allocation of production, so they offer rebars at USD 690 per tonne and WRC at USD 675 per tonne to USD 685 per tonne. Another producer is asking for USD 700 per tonne to USD 710 per tonne for rebars and USD 710 per tonne to USD 715 per tonne for wire rods. But it seems that is possible to negotiate a bit.

Ukrainian flat product prices remained somewhat unchanged but Russian mills hiked their prices for both HR and CR by about USD 20 per tonne.

Apr 20, 2010 07:58
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