Russia’s Severstal, one of the key local flat steel producers and exporters, has closed its January production export sales for hot-rolled coil (HRC) at a slight discount compared to the initially announced offers. Moreover, the mill has already started trading for February production allocation.
The latest deals from Severstal have been closed since last week at $890-940/mt FOB depending on coil weight and the order size. Overall, the company traded around 90,000 mt of HRC with the most recent deals amounting to around 20,000-30,000 mt, SteelOrbis has learned. Overall, the company has stepped down by $10/mt from the initially announced offer levels for January, all of the mentioned tonnage was reportedly sold to the northern part of the EU.
Moreover, the mill has already started to quote for February production HRC to the European markets, offering levels in line with the latest deals, at $890-940/mt FOB, SteelOrbis has learned. The total amount of HRC to be traded for February rolling is expected to be once again around 90,000 mt.