CIS FLAT STEEL: Buyers hold back in expectation of lower prices

Export prices for hot-rolled and cold-rolled coil from the Commonwealth of Independent States continued to decline over the past week, with buyers still pessimistic and waiting for prices to reach the bottom, sources told Fastmarkets on Monday, October 21.

Fastmarkets’ price assessment for steel HRC export, fob Black Sea, CIS was $375-385 per tonne on October 21, down from $380-395 per tonne a week earlier.
“These are the worst times since 2015,“ a buyer from Middle East and North Africa (Mena) region, told Fastmarkets. “The prices just don't make sense [for buyers] and they keep falling.”

Russia-origin HRC was on offer at about $385-390 per tonne...


Marina Shulga

October 21, 2019

17:32 GMT