Black Sea based steel players remained on vacation but the break should be finished on Monday ie January 11th 2010, with higher quotes.

According to the most recent quotations, CIS billet producers are asking USD 430 per tonne to USD 440 per tonne on FOB Black sea basis, increase of USD 5 per tonne to USD 20 per tonne over pre vacation levels.

On the other hand, Turkish billet sellers are looking at USD 460 per tonne on FOB basis.

Sentiments are quite optimistic, but we will see how market behaves when people will come back from vacations.