Metal Bulletin’s weekly price assessment for CIS-origin HRC exports was $550-570 per tonne fob Black Sea on Monday May 14, down by $20-30 per tonne from $580-590 per tonne fob Black Sea a week earlier.
Magnitogorsk Iron & Steel Works (MMK) was heard to have cut its June-rolling offers for heavy-gauge HRC to $560-570 per tonne fob Black Sea for the Middle East-North Africa (Mena) region. In late April, its offers had been $590-592 per tonne fob Black Sea.
Offers of standard coil are traditionally priced around $10 per tonne lower than those for heavy-gauge coils.
“They can’t sell because prices are high,...