Local and export flat steel prices in CIS

Ukraine-based company Metinvest has sold all its March rolling hot rolled coil (HRC) for the export market, which it had been offering to Europe at levels of $575-580/mt FOB. At present, the company is deciding on its new price levels, and so is mostly out of the market for the moment. Demand for March rolling HRC was low, as buying activity was not so strong in the restocking period. Meanwhile, supply from the CIS for the export markets has remained somewhat limited, as Russian producer MMK in particular has been more active in its domestic market, selling limited overseas volumes. Currently, Russian HRC offers to the Middle East are standing at $605-610/mt FOB.
 
The situation is similar for hot dip galvanized (HDG) materials, with stable low demand. Thus, local offers for 0.5 mm Z100 HDG are standing at the level of RUB 33,550-34,550/mt ($1,100-1,120/mt) ex-warehouse in the central region of Russia, while local prices in the eastern part of Ukraine for 0.45 mm Zn100 are at around UAH 9,150-9,550/mt ($1,140-1,190/mt) ex-warehouse, both price ranges including VAT.