CIS flat steel producers yet to announce new offers

CIS flat steel producers are still expected to return to the market today after the Christmas holiday and are anticipated to announce their offers for February rolling.
 
Russian steel producers are expected to announce their new offers for February production, while it is thought that new prices may be higher than prices for January production. Last week, Russian steel producer Severstal had announced its hot rolled coil (HRC) offers to Turkey at $660/mt CFR and its cold rolled coil (CRC) prices at $750/mt CFR, both up $20/mt as compared to previous offers.
 
In the meantime, Ukrainian producers are also expected to return to the market with increased prices, which were standing at $550-560/mt FOB for January production HRC. On the other hand, market players are waiting to see a $10-20/mt increase in new ex-Ukrainian HRC offers to Turkey, which are currently standing at $570-590/mt CFR.
 
Despite the anticipation of a strong rebound in market prices, it is still uncertain how much these prices increases will support flat steel prices amid low demand and to what extent these increased prices will gain acceptance in the market.