Although as per some media reports, prices of billets have started correcting, as per our reports they continue on upward trend this week.
Steel billet price at Black Sea are climbing up quite fast. As per reports, offers are up to USD 680 per tonne FOB whereas actual deals have been heard at USD 660 per tonne FOB Black Sea.
The producers are still expecting the FOB prices to reach USD 700 per tonne, but it looks that steam has already gone out as scrap and finished product quotations are limiting possibility of further increase.