CIS export HRC, CRC prices drop on lower deals, bids

CIS-origin hot rolled coil (HRC) and cold rolled coil (CRC) prices dropped over the past week, in the wake of falling global raw materials prices and the weakening of Chinese domestic steel values.

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...

Published

Nadia Popova

September 20, 2017

13:54 GMT

Moscow