In February,
CIS flat steel producers' export offers for their March production had remained above their actual transaction prices.
After selling most of its February production to markets in the Americas, Russian steel producer
Severstal had increased its hot rolled coil (
HRC) prices for March production to $640-660/mt FOB. However, demand coming from these markets remained low for the producer's March production and so
Severstal's
HRC transaction prices were mostly at $615/mt FOB.
For April production,
Severstal ‘s export offers have increased as compared to its transaction prices. Accordingly,
Severstal's
HRC offers are now standing at $635-650/mt FOB, while its cold rolled coil (
CRC) offers are at $735/mt FOB and its hot rolled
plate (HRP) offers are at $670/mt FOB.
In the meantime, after offering
HRC to export markets at $620-630/mt FOB for March production, Russian steel producer Magnitogorsk Iron and Steel Works (
MMK) has increased its
HRC offers to $640/mt FOB Novorossiysk and $650/mt FOB Vladivostok.