This week was positive as billet market firmed up a bit at Black Sea.

From bottom quotations at USD 410 per tonne to USD 420 per tonne, billet prices posted major recovery as some deals were fixed at about USD 435 per tonne FOB Black Sea.

According to the market sources there are no currently offers below USD 445 per tonne.

Moreover, big producers, after covering allocation for July, are keeping out of the market; and some other players are even proposing USD 465 per tonne to USD 475 per tonne FOB.