CIS-based HRC mills gradually start July production export sales

Friday, 21 May 2021 17:06:45 (GMT+3)   |   Istanbul

CIS-based hot rolled coil (HRC) producers have started offering and selling for July production with the EU and Turkish markets being targeted. Moreover, they have again achieved higher price levels despite the uncertainty in the market connected with the downturn in China and the possible imposition of export duty there.

Russia’s Severstal has recently sold up to 10,000 mt of HRC for July production to the EU at $1,280/mt FOB, while the latest deals for June were closed earlier this week at $1,265/mt FOB. As compared to mid-month, Severstal’s sales price has increased by at least $35/mt.

Ukraine’s Metinvest has sold around 10,000 mt of July HRC to Turkey this week at $1,120-1,130/mt CFR, up by around $10/mt over the past week.

NLMK, according to sources, has sold a small cargo of June production to Turkey at $1,130/mt FOB recently and has not yet started to offer for July. MMK is also expected to announce its July production offers by the end of the month.

Overall, except for the EU, where Severstal has a clear advantage, the CIS-based mills are targeting sales to Turkey as the largest importing market in the region. This week, local prices from the Turkish mills have been at $1,160-1,200/mt ex-works, while their export prices have been voiced at $1,180-1,200/mt FOB.

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