[SMM Steel] Russian Billet Export Quotes Stable; Black Sea Geopolitical Risks Push Up Freight Rates

Published: Aug 10, 2026 14:56

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[Russia] Driven by regional instability and a deteriorating security environment, sea freight rates have surged significantly. According to SMM research, Russian steel billet export offers held steady at 465 USD/tonne FOB (for September shipment), though available volumes remain extremely limited. Disrupted by security issues such as drone attacks, mills are inclined to extend delivery timeframes. They are in no rush to take new export orders and are instead focusing on the domestic market. Notably, Turkish buyers are broadly staying on the sidelines due to war risks. With freight rates to Turkey soaring to 35–40 USD/tonne, no actual transactions have been reported so far.

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