27th week CIS market review: CIS domestic finished steel markets are on the rise again

Wednesday, 09 July 2008 13:15:48 (GMT+3)   |  
       

During the 27th week of 2008 (June 30 - July 6), the CIS export markets showed different trends depending on the product groups. Whereas, the ex-CIS scrap export markets retained their calm trend, the same origin billets saw a reduction in price offers for most markets. Meanwhile, CIS origin flats saw different trends this week, depending on the origin of the products. Whereas prices for Russian origin flats were on a rising trend, Ukrainian origin products spent the week on a stable trend.

Meanwhile, the CIS domestic market for finished steel saw another price rise during the 27th week. As for the domestic scrap markets, the Russian domestic scrap market continued its stable trend, while Ukraine showed a slight rise.  

Scrap: Black Sea region market is still calm 

During the 27th week, the Black Sea region scrap market saw few changes as compared to the 26th week. Just as during the 26th week, Turkish steel producers abstained from concluding large amounts of bookings for ex-CIS A3 grade scrap. On the other hand, price variety became even larger than during the previous week.

As for the Russian and Ukrainian domestic scrap markets, during the week ended July 6, the Russian scrap market retained its stability. On the other hand, an upward correction in the domestic prices of scrap has been seen in Ukraine. Thus, during the week in question, the Ukrainian domestic price for A3 grade scrap went up by UAH 20/mt ($4/mt).

Longs: CIS billet exporters reduce price for major markets

During the 27th week, CIS origin billets saw a reduction in their price offers for most markets. As consumers in the Middle East and the Gulf regions raise their billet inventories, less and less offers for imports are being accepted. On the other hand, the only strong market which is currently accepting a continuous price rise is the Iranian market, where price offers of ex-CIS billets increased by $20-30/mt.

On the other hand, under the pressure of decreasing billet prices, ex-CIS rebar offers saw no change in price during the week ended July 6.

Following a relatively stable trend during the 26th week, Russian domestic rebar prices saw an upward trend once again during the 27th week. Thus, during last week, rebar in the Russian retail market went up by Ruble 1,700/mt ($72/mt).

Meanwhile, the Ukrainian longs market continued its rising trend during the week ended June 6. The retail price for rebar in the market increased by UAH 120/mt ($26/mt) on average.  


Flats: Domestic flats prices rise in both Russia and Ukraine

During the 27th week, the CIS flats market showed differing trends depending on the origin of the material. Whereas Ukrainian origin flats showed no changes in export quotations, offers of Russian origin HRC and CRC increased in price by about $50/mt.

Flat products in the Russian domestic market showed a similar trend as the same origin products in the export markets. Thus, during the 27th week the retail price for HR in Russia increased by Ruble 800/mt ($34/mt), while the retail price for CR went up by Ruble 600/mt ($26/mt).

The Ukrainian domestic flats market also saw an upward correction in quotations last week. The retail price for HR went up by on average UAH 110/mt ($24/mt), while CR price increased by on average UAH 60/mt ($13/mt). 


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