CIS STEEL BILLET: Trading activity revives but still no clarity on price trend

Trading activity in the CIS export billet market enlivened by mid-January with new bookings coming to light. But the general trend still lacked clarity because the price range of bookings was wide.

Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $408 per tonne on January 16, unchanged day on day.
A 50,000-tonne cargo of Ukrainian special-grade billet was sold to Saudi Arabia at $442 per tonne cfr. Considering the freight rate of $30-32 per tonne and a $5 per tonne extra payment for the specific chemistry, a normalized price would net back to $405-407 per tonne fob Black Sea.

Another Ukrainian mill at the same time sold a cargo of billets to Latin America at...

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