CIS FLAT STEEL: Price falls further on weak demand, effect of rebound in China

Export prices for flat steel products from the Commonwealth of Independent States continued to decrease in the week ended Monday December 3 under pressure from weak global demand.

The rebound seen in the Chinese domestic hot-rolled coil (HRC) price on Monday may support the global market, however. Fastmarkets’ weekly price assessment for CIS-origin exports of HRC was $460-475 per tonne fob Black Sea on December 3. This was down week on week from $470-480 per tonne fob Black Sea. The Eastern China domestic HRC price was 3,690-3,730 yuan ($531-537) per tonne ex-warehouse on December 3, surging upward by 100-120 yuan per tonne compared with November 30, but the corresponding price in Northern China was 3,460-3,550 yuan per tonne ex-warehouse, down by 160-220 yuan per tonne. Prices have increased now that the United States and China have...

Published

Marina Shulga

December 03, 2018

19:45 GMT

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