The slowness of flat steel demand in the global market has negatively affected Russian and Ukrainian mills' hot rolled coil (HRC) export offers. After Russian steel mill Severstal's $30-35/mt cut in its export prices, other Russian and Ukrainian mills have cut their offers by $25-30/mt.
SteelOrbis has learned that Ukrainian steel producer Ilyich Iron and Steel Works' June rolling export HRC offers are at the level of $570/mt FOB. Ukrainian mill Zaporizhstal's HRC export offers on FOB Odessa basis are at $580/mt while its HRC offers FOB Nikolaev are at $570/mt.
Meanwhile, Russian steel maker Magnitogorsk Iron and Steel Works' (MMK) June production HRC offers are standing at $585-595/mt FOB.