Press releases

CIS longs export prices stabilise, exporters are bullish - 15 December 2011

CIS rebar and wire rod export prices
September - January 2012, FOB $/t

©SBB 2011

 

Sep 11

Oct 11

Nov 11

Dec 11

Jan 12*

Rebar

 705 - 720 

 640 - 660 

 620 - 640 

 610 - 640 

 620 - 640 

Wire Rod

 740 - 750 

 680 - 685 

 640 - 660 

 640 - 660 

 640 - 670 

* SBB forecast, except announced surcharges

Prices of wire rod and rebar from Ukraine, Belorussia and Russia are seen as stabilising on the back of the rallying Turkish scrap and the need for restocking in traditional markets, market sources tell Steel Business Briefing.

While prices haven't changed until now, buying activity is said to have improved and producers are getting ready for a new round of small increases, as Turkish scrap prices reached $445-448/tonne cfr for HMS 1&2 80/20 grade yesterday, sources say. The Russian rouble's devaluation against the dollar has given a stronger competitive edge to exporters, including those who traditionally sell domestically.

Wire rod export prices are stable, with offers reaching $665/t fob Black Sea, and concluded deals at $640-660/t fob Black Sea, depending on the exporter. Ukrainian mills Kryvyi Ryh and Makeyevka are in the same range of $640-660/t fob, with higher levels being achieved most recently. Makeyevka is sold out of January and is offering February volumes now.

Moldova is producing little so is not offering at the moment, but Russia's MMK is, untraditionally, at $640-650/t Novorossiysk for late December production volumes of around 10,000t, mill sources say.

Rebar continues to fare a little worse, although sales are being concluded, mainly to African destinations. Saudi Arabia is said to have bought at up to $650/t cfr in the beginning of the month, but as it is now mulling offers of billet at the same levels, prices of rebar are bound to increase there, sources point out.

MMK is said to be offering rebar too, at $630/t fob Black Sea, but this could not be confirmed with the mill. BMZ has sold out in the beginning of the month, at $610-620/t fob Black Sea, and is coming out with February rolling later this month.

 

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