Russian billet market is facing volatility

At the beginning of last week, billets from the Black Sea basin were primarily available at prices ranging from $435 to $440 per ton. As the week progressed, prices increased, reaching approximately $445 per ton. However, by the end of the week, prices had adjusted to around $440/t FOB.

The price levels of Russian billets have seen a slight strengthening due to the recent appreciation of the ruble. This change has pushed prices for billets to around $450-455/t CFR Türkiye. However, this positive shift is tempered by the overall market's volatility and the growing reluctance of mills to engage in export activities. Some mills have completely halted exports, while others have responded to market conditions by raising their prices.