Export prices for flat steel products from the Commonwealth of Independent States fell again in the week to Monday September 13, with soft demand in its traditional overseas markets leading suppliers to seek alternative outlets.
Hot-rolled coil
Fastmarkets’ weekly price assessment for steel HRC, export, fob Black Sea, CIS was $850-870 per tonne on Monday, down by $15 per tonne from $865-885 per tonne on September 6.
Sales of Ukraine-origin HRC were made to Turkey at $890-895 per tonne cfr, roughly equivalent to $865 per tonne fob.
That was in line with other sales to the region. But while, in late August, light coils were sold at this price, this week it was heavy coils being sold and heavy coils normally have premium of about $10 per tonne.
Offers of light coils from Ukraine to Turkey were heard this week at $880-890 per tonne cfr, which equates to about $850-865 per tonne fob.
Offers of the same material from Russian suppliers were heard at $890-900 per tonne cfr, depending on the supplier, which equates to around $860-870 per tonne fob.
“[Russia’s] Severstal sold [coil] to Turkey at $890 per tonne cfr [about $860 per tonne fob Black Sea], and that means its usual [European] market is not that good [at the moment] and the company is searching for other buyers,” one trader said.
Severstal is usually focused on flat steel sales to the EU, where it has the lowest anti-dumping measures of the CIS suppliers of HRC at €۱۷٫۶۰ per tonne. The other CIS suppliers face fixed charges of €۵۳٫۳۰-۹۶٫۵۰ per tonne. The company normally exports its products from Baltic sea due to its geographical position.
“It seems that [Ukraine’s] Metinvest has been looking into the possibility of selling its HRC to Asia, which means that demand from its usual markets [of Turkey, the wider Middle East, North Africa and the EU] is no longer enough,” another trader said.
Cold-rolled coil
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob Black Sea, CIS, meanwhile, was $965-970 per tonne on Monday, down by $15 per tonne from $980-985 per tonne a week earlier.
And Fastmarkets’ price assessment for steel heavy plate, 8-50mm, export, fob Black Sea, CIS was $960-995 per tonne on September 13, down from $985-1,010 per tonne a week earlier and in line with other flat steel products.
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