CIS-based hot rolled coil (HRC) suppliers have continued to sell for October production, having managed to keep prices relatively in line with the previous deals.
Russia’s Severstal has sold out its additional 25,000 mt HRC allocation for October production at $510/mt FOB Baltic Sea, again to the EU. The producer is expected to be out of the market for at least a couple of weeks now.
NLMK, another Russian steel producer, has traded an additional 10,000 mt of HRC for October production to Turkey at $520/mt CFR or around $505/mt FOB. Previous lots were sold to the same destination at a similar price.
MMK has been gradually increasing export volumes after the restart of its 2500 mill. The supplier has sold 35,000 mt of HRC to Vietnam at close to $530/mt CFR with the freight estimated at $15/mt. Previous deals to this destination were closed $10/mt lower. In addition, MMK has traded around 30,000 mt to third parties in Turkey in the range of $505-515/mt CFR or around $490-500/mt FOB and has traded around 50,000 mt to its own Turkish asset, sources estimate. MMK still has some October allocation of HRC to sell, SteelOrbis understands.
Ukraine’s Metinvest, according to sources, sold additional lots of big coils for October to Turkey at $520/mt CFR, versus $517-518/mt CFR traded a week ago. The supplier’s small coils were sold to Turkey in the range of $507-510/mt CFR.