Export prices for steel hot-rolled coil products from the Commonwealth of Independent States went down on Monday July 12 with most new deals made with Turkey, sources have told Fastmarkets.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $920-940 per tonne on July 12, falling from $945-955 per tonne on July 5.
The latest sales of Ukraine-origin HRC were heard to Turkey at $945 per tonne cfr, equivalent to about $920 per tonne fob. No offers were heard below $950-960 per tonne cfr, equivalent to about $925-935 per tonne fob.
From Russia, offer prices for HRC were heard at $940-950 per tonne fob for mid-August shipping.
And two deals to Turkey for Russian material totalling about 30,000 tonnes were heard during the week at $950-960 per tonne cfr, equivalent to about $925-935 per tonne fob.
Russia has announced temporary export duties on HRC with a base rate of 15%, or $115 per tonne minimum, which will be effective from August 1 until December 31.
Consequently, the deals made during the week will be subject to the export duty. This meant that prices from Russia were down from offers heard last week at $955-960 per tonne fob.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob Black Sea, CIS, was $1,125-1,145 per tonne on July 12, unchanged week-on-week.
Offers from Russia were reported at $1,145-1,150 per tonne fob last week.
Offers as low as $1,040-1,050 per tonne fob were also heard over the past seven days, but they could not be confirmed before the price assessment was published.
Fastmarkets’ weekly price assessment for steel heavy plate, 8-50mm, export, fob Black Sea, CIS, was also unchanged on Monday at $1,020-1,025 per tonne, on low market activity.
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