Turkey remains one of the key export destinations for most CIS-based hot rolled coil (HRC) sellers. Russia’s MMK has recently sold 20,000 mt of coils for June production at $1,030/mt CFR, SteelOrbis has learned. The company’s new offers are set at $1,050/mt CFR. NLMK, another Russia-based supplier, has reportedly been aiming to sell at around $1,040/mt CFR and above, with no deals heard. In the meantime, Ukraine’s Metinvest is offering $1,030/mt CFR for small coils, versus the transaction price of $990-1,000/mt CFR last week.
Severstal still remains mainly focused on sales to the EU, where it is able to get much higher prices compared to alternative destinations. Having the smallest AD percentage compared to other ex-CIS mills, Severstal is able to stand at $1,120-1,140/mt FOB Baltic Sea in offers and small deals to the northern part of the EU. “Local prices in Europe keep climbing every week and the supply is still limited. So there is no need for Severstal to look into sales to distant destinations,” a source told SteelOrbis.