Commodity exchange analysis in June shows that prices have risen in all trading positions. Long sections, despite price increases, have not gained much customer base. Due to the prevailing election atmosphere in the market, many buyers preferred to postpone entering the market until after the election.
Brazilian slab export prices remained stable as buyers and sellers held their ground in negotiations for August-shipment batches amid high flat steel prices and raw material costs.
Rising energy and raw material prices, on the one hand, and the closure of export routes, on the other, due to rising raw material prices relative to the final product, have pushed domestic prices above export prices in some countries. We are witnessing this issue in Iran. Domestic market transactions are reported with minimal trades.
Indian steel mills kept their domestic hot rolled coil offers unchanged on Friday June 18, despite local traders continuing to undercut their prices by as much as 3,500 rupees ($47) per tonne, Fastmarkets understands.