The Russian billet export market remained mostly stable at the end of April, although underlying conditions continue to create pressure. Sellers were offering billets at around $475–485/t FOB Black Sea, with some mills trying slightly higher levels close to $487/t. Most of these cargoes are planned for shipment in mid-June, although a few producers may arrange earlier shipments from ports like Novorossiysk for early June if deals are finalized quickly.
Despite stable prices, Russian exporters are facing growing challenges. One of the main concerns is the strong Russian rouble, which makes exports less competitive and reduces profit margins. At the same time, high freight costs and ongoing global geopolitical tensions are adding further pressure to the market. Another factor supporting prices is the reduced supply from competitors, especially after Iran scaled back its billet exports.
In Türkiye, the market shows a similar picture of stability, but with weak demand. Russian-origin billets are being offered at around $495–500/t CFR, equivalent to roughly $470–485/t FOB Black Sea. However, Turkish buyers remain cautious due to a slow rebar market and are mostly targeting slightly lower levels, around $505/t CFR or below. This has created a small but clear gap between buyer expectations and seller offers.
There have been some buying attempts, including bids near $494/t CFR for volumes of 8,000–10,000 tons, but these were rejected by Russian suppliers. Overall, while prices have not changed significantly, the market remains fragile, with limited buying interest and ongoing pressure from currency movements, costs, and weak downstream demand.
Comments
No comment yet.