Over the previous four weeks, CIS-origin HRC and CRC prices had risen by an average of $40-55 per tonne fob Black Sea, according to the Metal Bulletin pricing archive.
The growth was supported by increases in Chinese export prices.
China’s export prices for HRC have remained strong this week, although they appeared to be losing some of their upward momentum after recent weakness in the country’s domestic market
Also, the prices for coking coal
and iron ore
, key steelmaking ingredients, have been going southwards over the past week.
The traders were divided over the prospects for the CIS...