A resumption in buying activity helped to improve sentiment in the market of flat steel in CIS , sources told Fastmarkets this week.
*** flat steel in CIS , hot-rolled coil
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $480-495 per tonne on Monday October 12, narrowing upward from $۴۷۰-۴۹۵ per tonne a week earlier.
“Suppliers have reduced their offers enough to meet demand, so trading activity has resumed,” one trader said.
“The market looks more positive [than a week before] because China has come back from its holidays,“ another trader said.
A large sale of Russia-origin HRC to Turkey was heard at $515 per tonne cfr – equivalent to about $495 per tonne fob – although “not all volumes were sold at this price,“ according to one source.
Ukraine-origin HRC was also sold to Turkey at $495-505 per tonne cfr, which would be about $480-490 per tonne fob depending on the weight of the coil.
Ukraine usually supplies HRC to pipe producers in Turkey, which is why the deal prices for this material is traditionally lower than for Russia-origin material, which is normally sold to producers of downstream products.
In the Middle East, offers for HRC from Russia were heard at $480-485 per tonne fob.
Ukraine-origin HRC, meanwhile, was on offer in Egypt at $505-515 per tonne cfr depending of the coil weight. That would equate to about $482-492 per tonne fob. Small sales were reported at this price.
***CRC
Fastmarkets’ weekly price assessment for steel CRC, export, fob Black Sea, CIS was unchanged at $560-570 per tonne on Monday.
Russian CRC was offered at $570-575 per tonne fob during the week, although, no bookings were reported at this price because buyers were not willing to pay more than $۵۶۰ per tonne fob, sources said.
***plate
Fastmarkets’ weekly price assessment for steel heavy plate, 8-50mm, export, fob Black Sea, CIS was $535-555 per tonne on Monday, up from $525-550 per tonne a week before.
The workable level for CIS-origin plate was said to be $۵۲۵-۵۳۵ per tonne fob Black Sea in the Middle East and North Africa region, sources said. Meanwhile, offers were heard at about $555-570 per tonne fob.
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