Russian suppliers continued to present offers in the $445–447/t FOB Black Sea range, refraining from price reductions amid ruble volatility. Billets sourced from the Donbas region were offered at $440–443/t FOB Novorossiysk. In Türkiye, CFR offers were positioned at $465–470/t, while counteroffers from buyers were around $455–460/t CFR.
For the Far East, Russian offers for Eastern ports were around $425/t FOB. Overall, the market sentiment remained balanced but quiet, with weak demand and limited transactions keeping prices largely stable.
Major billet markets across Asia, the Black Sea, and the Middle East maintained a generally steady trajectory. Trade slowed due to a combination of the Chinese New Year holiday, reduced demand associated with Ramadan, and cautious approaches from re-rolling suppliers. Meanwhile, Iran continued export sales despite escalating geopolitical tensions. Market activity remained sluggish, with new orders limited and participants awaiting clearer demand signals before taking positions.
Overall, the Russian billet market is calm and steady. Prices haven’t moved much, and trading activity is limited. The gap between what buyers want and what sellers are offering makes it unlikely that the market will pick up until there are clearer signs of demand.
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