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Platts FOB Black Sea Steel Billet Rationale

Wednesday, 21 October 2020

S&P Global Platts assessed CIS export billet at $409/mt FOB Black Sea on Oct. 21, down $1/mt on day.

A CIS mill reported offers between $415-$420/mt FOB Black Sea. A trader cited offers to Turkey at $425-$430/mt CFR, which worked back to $410-$415/mt FOB Black Sea. He added that buyers sought $410/mt CFR Turkey, or $395/mt FOB Black Sea. Another trader said CIS mills insisted on $410-$415/mt FOB even though there were no bookings at this level.

One mill cited two deals from last week, totaling 40,000 mt, mixed grades 5sp and 3sp, November shipment, closed at above $410/mt FOB Black Sea. This week the offers ranged $410-$415/mt FOB but no deals were confirmed, the mill added. Bids from Saudi Arabia came at $430/mt CFR ($400/mt FOB), the company said.

The above rationale applies to the Platts daily FOB Black Sea billet assessment, with the associated market data code: STBLB00

-- Staff

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