The effect of input cost pressures became clearer last week as Ukrainian and Russian sellers hiked their export quotations last eek.

Billets prices were influenced by scrap quotations. Price range went up to USD 430 per tone to USD 450 per tonne FOB Black Sea. Some shipments have been already confirmed at USD 440 per tonnes. The hike is due to non availability of tonnages as well as support from demand surge for SEA including India.

O the other hand, demand for finished longs remained slow last week and prices did not change.

For HRC prices we have heard of deals to North Africa for Ukrainian products at USD 540 per tonne to USD 560 per tonne on CFR basis, It is learnt that Severstal has proposed to Turkish buyers HR at USD 580 per tonne to USD 59 per tonne on CFR basis, reflecting surge of almost SD 20 per tonne.