SteelOrbis has learned that Russian steelmaker Severstal's June production hot rolled coil (HRC) offers to the export markets stand at the base price level of $685/mt FOB St. Petersburg, decreasing by $15/mt as compared to $700/mt FOB last month.
As SteelOrbis has previously reported, for its April production, Severstal had first announced its export price rate at $750/mt FOB. However, the producer had moved down its price to $710/mt FOB in mid- April due to weak demand.