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Kallanish Steel Weekly: Billet prices peak as market calms

Kallanish Steel Weekly: Billet prices peak as market calms (Feb. 19, 2019)

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Last week billet prices across the globe continued to perform well, but, for many observers, the peak might be near.

CIS billet mills increased their offers to $460-470/tonne fob Black Sea at the end of last week. They have seemingly no intention to compromise with buyers whose bids at lower levels were not met with counter-offers.

This increase happened despite the Southeast Asian market retreating after a flurry of high-priced sales, and Chinese offers once again low enough to compete with CIS producers. The latter is the reason why no CIS billet is likely to go to Southeast Asia in the next couple of weeks. Some traders are already saying the $480/t cfr that some sellers recently achieved in the region was the "... wrong price for this type of market.”

 

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