A general decline across all steel product markets was observed at Black Sea last week, consecutively for the 2nd week.
As per report, working prices for billets should be USD 560 per tonne to USD 570 per tonne FOB Black Sea although officially mills offers are higher as they are still sticking to USD 600 per tonne levels. But we heard that this position is not firm anymore and USD 570 per tonne to USD 580 per tonne are more than discussible. Moreover some mini mill(s) are reported to be selling at USD 565 per tonne. In addition, limited supplies from ports are also available at USD 550 per tonne to USD 560 per tonne mainly form traders, but it seems that this source is almost destocked now.
Finished longs are seems to be quoted higher or at the same level than Turkish material once again.
Offers of the Ukrainian HRC lost USD 20 per tonne to USD 30 per tonne last week and went down to minimum level of USD 640 per tonne. Meantime the Russian offers keep the previous levels. We think that some lack of bookings is felt, so maybe prices will deep further.
Plates also went down by USD 20 per tonne to USD 30 per tonne. Structural grades plates from a mill were offered at USD 670 per tonne to USD 680 per tonne FOB last week, while another mill proposed USD 700 per tonne FOB Mariupol, but it seems that USD 670 per tonne to USD 680 per tonne could be negotiated. But high end Ukrainian mill and Russians seems to be not in a hurry by maintaining higher offers.
So, it seems that the filling of order books has started to be an issue once again, putting prices under sever pressure.