The export market for steel hot-rolled coil from the Commonwealth of Independent States went down during the week ended Monday September 6 on low demand because buyers were cautious about possible further price drops.
Fastmarkets’ weekly assessment of the price for steel HRC, export, fob Black Sea, CIS, was $865-885 per tonne on Monday, down from $880-900 per tonne a week earlier.
Sales of Ukraine-origin HRC were made to Turkey at $890-895 per tonne cfr, roughly equivalent to $865 per tonne fob. That was down from the latest reported offers at $900-910 per tonne cfr, close to $870-885 per tonne fob.
Offers of Russia-origin HRC were heard at $875-880 per tonne fob in Turkey and $885-895 per tonne fob in the Middle East-North Africa region.
“Buyers are really cautious because prices have been dropping fast,” one buyer said. “Everyone has material in stock that was booked at high prices, and is continuing to receive material now that was booked in June-July [at higher prices than are now available in the market], so buyers are scared to buy more [material] in case the downtrend [in prices] continues.”
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob Black Sea, CIS, was $980-985 per tonne on Monday, up slightly from $975-980 per tonne a week earlier.
Offers of Ukraine-origin CRC were heard at $985-995 per tonne fob.
But the price of steel heavy plate, 8-50mm, export, fob Black Sea, CIS, was assessed at $985-1,010 per tonne on September 6, down from $1,010-1,035 per tonne the previous week.
One source on the buyers’ side estimated the workable market level for plate at $980-985 per tonne. Meanwhile, the latest offers of plate from Ukraine were reported at $1,010-1,035 per tonne fob, depending on destination.
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