CIS prices for HRC, CRC shoot up by $15-40 on higher offers

The prices of CIS-origin hot rolled coil (HRC) and cold rolled coil (CRC) have jumped by between $15 and $40 per tonne over the past week, as the region’s producers have raised their offers. Buyers, however, took a wait-and-see approach.

“Prices have gone up too fast, so our customers cannot accept them straight away,” a trader said. “If someone needs to buy today, they would only buy on a hand-to-mouth basis.”
The growth in prices has been fuelled by the increase in Chinese export prices for flat steel products, which have risen by $30-35 per tonne since the start of July.

However, the country’s export HRC prices appeared to have hit a ceiling after six weeks of increases, as...

Published

Nadia Popova

July 25, 2017

15:02 GMT

Moscow