Importers capable of receiving supramax cargoes of Chinese AS are attracting sharp offers for steel grade for use as raw material in NPK production. Quotes were below $135/mt CFR duty unpaid with 180 days ahead of a tender that closes February 6. This would equate to about $145/mt CFR for duty free Ukrainian product while supplies from Russia would need to compete at par with the Chinese product. This would in turn reflect returns around $115/mt FOB Black Sea at sight to a trader supplying Russian product, compared to recent quotes some $10-15/mt higher.
展开▼
