Some of the Russian hot rolled coil (HRC) suppliers have been getting ready to start selling to the export markets for November production, while some of them have also concluded some deals while prices are high.
Severstal has started to sell limited HRC volumes for November production at $515-520/mt FOB Baltic Sea, up by $5-10/mt from the latest deals for October rolling. The mill is said to be not in the market officially, but seems to be accepting orders from regular customers, taking advantage of the high price levels. Severstal’s allocation for November production is expected to be half of the usual, taking into account the scheduled maintenance at its mill 2000. Some sources estimate the available export volume from Severstal for November at around only 50,000 mt.
NLMK is expected to give a similar export allocation for production in the same month. The supplier is foreseen to offer around $520/mt FOB, up from $505/mt FOB fixed in the latest deals to Turkey. Russia’s MMK, according to the sources, is at around $505/mt FOB for mid-December HRC shipments. The latest deals were closed to Turkey at slightly above $515/mt CFR Turkey, SteelOrbis has learned.
