Flat steel export offers from CIS decline in line with poor activity

Flat steel markets in Russia and Ukraine remains weak and prices continue to decline accordingly.
 
SteelOrbis has learned from market sources that Russian producers' hot rolled coil (HRC) export offers stand at $580-590/mt FOB in general, for December rolling, while Russian steel producer Magnitogorsk Iron and Steel Works (MMK) is offering cold rolled coil (CRC) to export markets at $690/mt FOB. In the meantime, while Russian HRC offers to Turkey stand at $610-630/mt CFR, it is heard that prices may be pushed down during negotiations.
 
Ukrainian steel producers' HRC export offers have declined to $550-560/mt FOB, while their HRC export offers to Turkey are at $570-580/mt CFR, both for December rolling. Until the end of this year, prices are expected to trend sideways or decline slightly. However, some market players state that by January demand and transaction activity may see some revival.