CIS FLAT STEEL: Oversupply pushes export prices down

The export markets for flat steel exports from the Commonwealth of Independent States have remained weak on oversupply and buyers’ fears of further price reductions, Fastmarkets heard on Monday October 8.

Fastmarkets’ weekly price assessment for CIS-origin HRC exports was $515-540 per tonne fob Black Sea on October 8, widening downward from $525-540 per tonne fob Black Sea a week earlier.
“There is an oversupply in the market, and concern among buyers that prices will go lower makes the situation more complicated. Even those who need material are postponing bookings or insisting on lower prices,” one trader from the Middle East-North Africa (Mena) region told Fastmarkets.


Marina Shulga

October 08, 2018

17:47 GMT