Prices for billets in the CIS are stabilizing

Bids for billets from the LPG remain at around $ 460 /t in the Black Sea, but the plants for the April deals are open to negotiate small concessions.
Most traders sit on hold, largely because the stagnation in prices last month has provided few trading opportunities. Russian manufacturers sold to traders, although the volumes and price of these transactions were low due to high prepayment and small volumes available.

Another Ukrainian producer indicated the Mariupol price of USD 460 /t with a small prepayment, which, according to traders, is unrealistic in today's market. According to them, some traders expect the market to revive in early April.

Traders note that demand in Egypt remains at the same level as before the introduction of the directive to restrict the import of billets, and so far there are practically no changes in the procurement structure. Sales would be possible at $ 470 /t CFR. An example of a lower price is one Ukrainian plant that has close ties to the country's rolling mills and "... can afford to have stocks," in the words of one trader.

Meanwhile, according to sources, the Ukrainian billet was booked in Algeria at a price of $ 475 per tonne.