CIS FLAT STEEL: Prices fall again on weak demand in principal markets

Export prices for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States have decreased again because of low demand in key markets, with buyers fearing further price declines, sources have told Metal Bulletin.

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,...


Marina Shulga

May 14, 2018

18:04 GMT