The export market for flat-rolled steel products from the Commonwealth of Independent States was firm but calm during the week to Tuesday June 15 after large buyers had already restocked, sources said.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $995-1,020 per tonne on June 14, unchanged week on week.
One Russian supplier was active in the export market with offers at about $1,025-1,055 per tonne fob depending on the destination, although this was above the workable level for buyers and no deals occurred, sources said.
Late during the reported week the supplier withdrew offers and started to collect bids in Turkey, Fastmarkets heard.
A second Russian supplier offered HRC at $1,100 per tonne cfr in Turkey, equivalent to $1,075 per tonne fob, although there was no interest from buyers reported at this level.
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“Turkish re-rollers aren’t buying after making active purchases from Indiaand China,” a trader from Turkey said.
“People in the market are trying to understand whether the tax on Turkish hot-dipped galvanized coil (HDG) in Europe will be applied,” the trader added. “If that is the case, buying activity in Turkey [which imports flat steel from the CIS,re-rolls imported flats to HDGand then exports it to the EU] will decrease and prices from the CIS will fall.”
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob Black Sea, CIS remained at $1,175-1,210 per tonne on June 14, flat week on week.
The latest offers for CRC from Ukraine were heard at $1,200-1,230 per tonne cfr in Turkey, equivalent to $1,175-1,210 per tonne fob, but there were no export offers from Russia reported because suppliers were focused on the local market, sources said.
Fastmarkets’ weekly price assessment for steel heavy plate, 8-50mm, export, fob Black Sea, CIS was unchanged week on week at $1,140-1,195 per tonne on June 14.
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