CIS billet prices stabilize
Export quotes for CIS billets stabilized in the second week of May. Suppliers keep seeking for price lift, referring to some improvement of buying interest. Besides, tight availability of semis remains one of the main arguments to appeal to. Yet, weak consumer confidence is still weighing on the market, suggesting relatively steady price trend to be maintained with only slight uptick possible, insiders believe.
Chinese billets rise just on sentiments
Chinese billet prices have slightly increased over the week on better sentiments. However, real market conditions have remained weak. So, most insiders expect price decrease in the near future.
Chinese rebar export price higher on warmer local market
Despite insiders’ expectations, export price for Chinese rebar kept climbing though at a slower pace amid warmer local market and prices.
UAE HRC market sees some revival
UAE HRC market has seen some revival over the past half a month as Iran’s Mobarakeh Steel Company opened a new tender. As it is known, Iranian prices are used as a benchmark for buyers.
Ukraine’s HRC sold to Turkey at discount
Turkey’s domestic HRC prices have continued to slide, thus putting pressure on import offers as well. As a result, Ukrainian supplier agreed to provide discounts for the material for June shipment.
Some deals for import billets seen in Turkey
Despite rapidly increasing spot prices for rebar in Turkey’s domestic market, billet suppliers, especially the ones from overseas, did not manage to raise their tags accordingly. The main reason is that Turkish steelmakers continue to eye scrap purchases instead of billets while deals with local re-rollers remain occasional
