CIS FLAT STEEL: Prices down on tighter competition, weaker markets

The export markets for CIS-origin hot-rolled coil and cold-rolled coil (HRC, CRC) have weakened on soft customers’ markets and price competition with other exporters, sources told Fastmarkets on Monday August 5.

Fastmarkets’ price assessment for steel HRC, export, fob Black Sea, CIS, was $470-485 per tonne on Monday, down from $485-500 per tonne week on week.
“The local market is weakening here [in Turkey, the principal outlet for CIS-origin flat steel], so import prices should go down,” one source from Turkey told Fastmarkets. “Moreover, MMK [Russia’s Magnitogorsk Iron & Steel Works] is in the process of restarting its rolling line and has started to offer light [standard-gauge HR] coils from September production.”

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Marina Shulga

August 06, 2019

18:12 GMT