As opposed to $465-470/t FOB a week ago, billet suppliers from the Black Sea basin offered their goods at $470-485/t FOB for shipment in October. In addition, some producers were charging $505/t FOB for semis for shipments in September as opposed to $490/t FOB previously. For the past two months, Russian producers have concentrated on the domestic market.
Buyers of North African billet received offers from the trader at $520/t CFR Egypt ($485/t FOB Black Sea) for shipment in October. This week in Tunisia, no new prices were announced. Offers from last week at $520-525/t CFR (roughly $490/t FOB Black Sea) are still in effect.
Market participants preferred to stick with the FOB basis over the CFR basis because freight rates varied depending on the shipment port. Rostov charges $90/t for freight to Egypt while Novorossiysk charges $30/t.
Comments
No comment yet.