CIS longs exporters are still in a rather shaky position. Despite active purchases of rebar by Iraqi buyers in early April and steady demand for finished longs from African customers, some suppliers from the Azov-Black Sea ports have been forced to back down to attract consumers. Meanwhile, Far Eastern buyers start closing sporadic deals for CIS wire rod after a continuous lull.
Byelorussian Steel Works (BMZ) has made a $5/t discount from the initial offer price set to the third countries this week. As a result, May-June rebar (up to June 15 production) is currently available at $655/t FOB Odessa, but buyers are reportedly accepting offers below $630-640/t FOB Odessa.
Novorosmetal has also cut prices for May rebar by $10-15/t w-o-w to $640/t FOB Novorossiysk.
ArcelorMittal Kryvyi Rih is offering rebar at $660-670/t FOB Black Sea to the Middle East and Africa, like last week. However, in early April the product was sold to Iraqi consumers at $650-655/t FOB. Suppliers are still offering discounts for large deals, market participants note. Wire rod in large coils is quoted at $680-685/t FOB Black Sea, as before.
Besides, ArcelorMittal Kryvyi Rih has started offering May products to East European consumers by EUR 10/t m-o-m higher.
Mechel still has a small volume of May 6.5-8 mm wire rod available at $680/t FOB Black Sea.
Metinvest International S.A has already filled up its May order book for Makiivka Steel’s wire rod, the latest deals being closed at $680-690/t FOB Black Sea with Israeli and African buyers. June products have not been offered so far.
Only Amurmetal has closed a deal in the Far East this week. It has sold a batch of 3,000 t to a large trader at $660/t FOB Vanino, Metal Expert learns.
( Source: metalexpertsgroup.com )