CIS FLAT STEEL: Market still weak on China downtrend

Export prices for flat steel from the Commonwealth of Independent States were weak on Tuesday October 16, reflecting the downtrend in China’s export market for hot-rolled coil (HRC).

Fastmarkets’ weekly price assessment for CIS-origin HRC exports narrowed to $520-530 per tonne fob Black Sea on October 16, from $515-540 per tonne fob Black Sea a week earlier.
“Suppliers [in the CIS] have no arguments to increase prices now. As long as the Chinese market is weak, the global market mood will be pessimistic,” one trader told Fastmarkets.

Fastmarkets’ daily index for HRC exports from China...


Marina Shulga

October 16, 2018

19:20 GMT