Thursday,June 02,
Black Sea Billet hold steady last week after considerable raise in prices in last few weeks .Demand from Egyptian and Iranian markets started growing after 2-3 months of stagnation as political unrest in North Africa and the Middle East depressed investment in construction there .
Traders quoted Black Sea billet at $640-650/MT free on board (fob) Russia and Ukraine, a similar level to last week but up from $600-640/MT at the end of April.
Traders are unsure on sustainability of prices at current levels. “Demand is quite firm at the moment but this market is not very consistent,” said a UK-based billet trader.
“Lately it has been active relatively speaking but demand is not as good as it used to be,” the trader said, comparing the current situation with pre-crisis levels.
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