CIS export HRC, CRC prices plunge by $20-35

Export prices for CIS-origin hot rolled coil (HRC) and cold rolled coil (CRC) have dropped by between $20 and $35 per tonne over the past week, following the dynamics in Chinese flat steel exports.

“Demand is low, as people expect a further fall in prices. Chinese prices have been going down, and their export offer volumes have been going up,” one trader said. “People don’t want to buy CIS flat steel in a weakening market,” another trader said. China’s domestic HRC prices dropped by $20-25 per tonne between March 14 and April 4,...

Published

Nadia Popova

April 10, 2017

17:18 GMT

Moscow