One of Russia’s largest hot rolled coil (HRC) exporters, Severstal, has once again hit a new high in prices in its export sales, to the EU specifically. The supplier has recently traded a total of 40,000 mt of February production HRC at $710-725/mt FOB Baltic Sea.
The previous indication, set by Severstal as an initial offer this week, was at $710/mt FOB. Last week, its sales were done at $685/mt FOB at the highest, as SteelOrbis reported.
The market continues booming for flats sellers, mainly driven by sufficient demand for cold rolled and coated steel and by the limited availability of hot rolled feedstock. In the Black Sea area, according to sources, NLMK is targeting up to $690-700/mt FOB, while Ukraine has recently sold at $680/mt FOB to Turkey for big coils.
