CIS flat steel producers to announce offers for February rolling after Christmas

CIS flat steel producers are expected to accept orders for their February production, once they return from the Christmas holiday, that is by the second week of January.
 
While they have already filled their order books for January production, Russian flat steel producers were offering hot rolled coil (HRC) to export markets at $575-590/mt FOB. Russian producer Magnitogorsk Iron and Steel Works (MMK) were offering HRC to the Turkish market at $610/mt CFR, while its cold rolled coil (CRC) offers were standing at $710/mt CFR.
 
In the meantime, Ukrainian flat steel producers' HRC export offers for January rolling were at $550-560/mt FOB. It is learned that Ukrainian producers have already filled their order books for January production and that they will begin to issue offers for their February production after the Christmas holiday. In December, ex-Ukrainian HRC export offers to Turkey were at $580/mt CFR.
 
Flat steel demand in the CIS has remained quiet and the CIS flat steel market is expected to maintain its calmness this week due to holiday. Market players state that CIS flat steel producers will announce their new offers for their February production towards the end of the first week of January or by the second week of January at the latest. It is almost certain that new offers will not remain lower than the current prices. Meanwhile, a flat trend or a slightly upward trend is seen possible.