Russian billet suppliers have returned to the market, but with limited flexibility on pricing. Current offers from Russian mills are reported at around $430–437/t FOB Black Sea, while material from the unrecognised republic of Donbas is being offered slightly lower, in the range of $420–430/t FOB. However, Russian producers are struggling to lower prices further, as the rouble has strengthened again, putting pressure on their export margins.
In Türkiye, buyers are showing signs of renewed interest following the holiday pause, but actual bookings remain scarce. Turkish importers could potentially secure Russian billet at around $450–460/t CFR, which reflects a FOB range of $430–440/t. Price expectations have inched up by $5–10 per tonne over the past week, with current buyer ideas sitting at $450–455/t CFR. Just a week ago, bids were closer to $440–450/t CFR. Despite these shifts, no confirmed deals have surfaced yet.
Both local and international suppliers in Türkiye have raised their offer prices. Domestic billet is currently quoted at $500-515/t EXW, while export prices are at $515-520/t FOB. This increase is largely due to strong scrap prices and higher long product prices, which have allowed billet producers to test higher levels.
Still, trading remains slow. Market participants in Türkiye are keeping a low profile, avoiding firm forecasts and instead adopting a wait-and-see approach. Many are watching how long product prices and scrap trends evolve before making purchasing decisions.
Malaysia closed a slab deal, selling 50,000 tonnes of commercial-grade material to Türkiye at $465/t FOB for shipment at the end of June or early July.
In South Asia, China is offering blast furnace billet (130x12) to Sri Lanka at $475/t CFR for July shipment.
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