CIS FLAT STEEL: Market goes down as buyers reject 'unjustified' offers

The export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States have gone down over the past seven days because buyers have not accepted higher offers for August-rolled products from Russian suppliers.

“The main reason for the price decline was the absence of any reason for the rise in offers,” one trader told Metal Bulletin. “The price just fell back to a workable level.”
Metal Bulletin’s weekly price assessment for CIS-origin HRC exports was stable at $560-565 per tonne fob Black Sea on Monday July 23, narrowing downward from $560-575 per tonne fob a week before.

Offers from Russia’s Magnitogorsk Iron & Steel Works (MMK) for standard-gauge August-rolled HRC...


Marina Shulga

July 23, 2018

18:25 GMT