Fastmarkets’ weekly price assessment for CIS-origin exports of HRC was $470-490 per tonne fob Black Sea on May 28. This was up by $10 per tonne week on week.
“Despite talk about low demand in Turkey, the domestic and export prices there have gone up, supporting higher import prices,” one supplier from the CIS said.
Fastmarkets’ weekly price assessment for Turkish domestic HRC was $530-535 per tonne ex-works on May 24. This was up from $505-520 per tonne ex-works on May 17, on an improvement in the market after the United States halved its import duty on Turkey-origin steel.
Offers of Ukraine-origin HRC were heard at $495-500 per tonne cfr in Turkey early last week. This would have been close to $480-485 per tonne fob Black Sea. Sales were done at $485-495 per tonne cfr in Turkey, or about $470-480 fob Black Sea.
One Ukrainian supplier closed its order book for June-rolled flat steel, and had revoked offers and backed away from the market by the end of the week.
Market activity has been gradually rebounding in the Middle East with the Islamic holy month of Ramadan approaching its end. Ramadan started on May 5 and will last until June 4.
Some sales of Russia-origin HRC to the Middle East were heard at $490 per tonne fob Black Sea, while offers were heard at $490-500 per tonne fob.
Fastmarkets’ weekly assessment of the price of CRC exported from the CIS was $535-555 per tonne fob Black Sea on May 28, widening upward by $5 per tonne week on week.
Price indications were at $535-540 per tonne fob Black Sea for Ukraine-origin CRC, and $555-560 per tonne fob for Russia-origin CRC.
The weekly price assessment for CIS-origin exports of steel plate was unchanged at $550-585 per tonne fob on May 28 on a lack of reported market activity.
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