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Ukrainian steel billet sellers caving in as buyers move back- 25 Apr 10

It looks like Ukrainian steel billet sellers have broken the market for themselves. A lot of companies were keeping out of the market till the last time expecting to get some premium to the price.

When players came to the market with the price USD 645 per tonne to USD 660 per tonne, it was just not accepted. It became obvious that the situation on the market is not a mirror of the year before last year as supplies of finished longs for the last months were just led by semis.

Offers at USD 635 per tonne to USD 645 per tonne, even USD 600, were shots in the air without real demand. When suppliers started to come back to the market buyers moved back from USD 625 per tonne to USD 630 per tonne, that they were ready to pay a weak before, to USD 600 per tonne to USD 620 per tonne.

However confidence still prevails among billet sellers that price will not break USD 600 line, but who knows?

Apr 25, 2010 09:24
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