Longs and flats product prices exhibited different dynamics last week with longs weakening and flats strengthening.
However, the situation on billets market seems to have stabilized at Black Sea as February production of all the mills is reported to have been sold and there is no need for producers to be active on the market. On the other hand, buyers are also reported to be in wait and watch mode.
But finished longs are under pressure as the demand, especially for rebars, is very poor. This is forcing Black Sea long producers to look for orders at lower levels.
On the other hand, finished flats markets demand and prices are more sustainable.