Billet exporters in the CIS reported no new offers from producers or transactions for the semi-finished product as the May Day holiday saw a slowdown in trading activity, they said on Monday April 30.
Prices for billet sold into the Middle East and North Africa were at $600-610 per tonne fob Black Sea early last week, representing a $5 decrease from $605-610 the week before
High levels of demand from other regions have helped to keep prices steady, however, a trader told Metal Bulletin.
“There has been a lot of demand in East Asia and Iran,” the trader said.
He also believed mills might want to wait before making further concrete offers, due to a more positive outlook.
“There is a feeling that the outlook is better,” the trader added.
A Ukrainian trader noted that Donetsk-based Elektrostal had confirmed offers of $605 per tonne fob, but Metal Bulletin had not heard of any other offers at that level.