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CIS billet assessment rationale

Platts assessed CIS billet at $373/metric ton FOB Black Sea Wednesday, up $1 on day.
Billet for June shipment was offered by CIS producers at increased levels of $380-390/mt FOB Black Sea. One trader reported offers at $370-380/mt FOB.
A Ukrainian mill was reported to have sold 30,000 mt at $365/mt FOB Mariupol with pre-payment, which equates to the level around $370/mt FOB Black Sea. Some sources indicated $375/mt FOB was likely to be accepted in Turkey for prompt shipment although no bookings were heard.
In North Africa buyers can pay $380/mt FOB for prompt shipment but not for regular shipment.
Platts raised the assessment further as most market players expected the prices to continue moving upward in the near future in line with increasing scrap and iron ore prices.
No data was excluded from this assessment.
This rationale relates to Platts FOB Black Sea billet assessment, with the associated data code STBLB00

Platts.com

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May 3, 2015 12:02
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