Ex-CIS HRC prices expected to decline

Thursday, 14 March 2013 17:02:06 (GMT+3)   |   Istanbul
       

After the increased volume of ex-CIS HRC export activity observed over the past several months, activity has dropped to more usual levels as restocking processes have slowed down. Market players believe that ex-CIS HRC export prices may recede by $10-15/mt. However, there are some factors which give some support to suppliers to maintain their prices. Ukrainian steel producer Zaporizhstal's export volume of HRC will fall considerably cut due to significant maintenance works in April and will be partly substituted by products from Ilyich Iron and Steel Works. Metinvest has entered the market by quoting April output HRC at $565-575/mt FOB main Ukrainian ports.
 
At the same time, Russian steelmaker Magnitogorsk Iron & Steel Works (MMK) is maintaining prices for HRC at March offer levels, which were at $595-605/mt FOB to the Middle East and $628-635/mt FOB to Europe, despite the negative market situation caused by strong inflows of cheaper Chinese materials and decreasing prices for iron ore. 
 

Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Flats and Slab

European HRC prices keep falling, demand still shows signs of fatigue

28 Mar | Flats and Slab

Vietnam’s Hoa Phat and Formosa seek AD investigation on Chinese HRC

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News