The export market for hot rolled coil (HRC) from the Commonwealth of Independent States (CIS) has stabilized as prices approach levels workable for buyers, sources told Fastmarkets on Monday January 14.
Fastmarkets’ weekly price assessment for CIS-origin exports of hot-rolled coil(HRC) was stable at $440-460 per tonne fob Black Sea on January 14.
“The market looks more stable now. Buyers had earlier been coming to us with bids $20-30 [per tonne] belowoffers from mills, but current prices have become more or less workable for them,” one trader from the Middle East-North Africa (Mena) region.
One deal for 20,000-25,000 tonnes of Ukraine-origin HRC was heard In Turkey at the end of last week. The price was close to $355 per tonne cfr. That would be close to $440 per tonne fob Black Sea.
Meanwhile, offers of Russia-origin HRC were $480-490 per tonne cfr. That would be around $460-475 per tonne fob Black Sea.
Ukraine usually supplies HRC to pipe makers, which is why the price for this material is traditionally lower than for Russia-origin material. It is then sold on to re-rollers.
In the Middle East Russia-origin HRC was on offer at $450-460 per tonne fob Black Sea, while in Egypt offres were heard at $480-490 per tonne cfr, or $455-465 per tonne fob Black Sea.
Offers of Ukraine-origin HRC in West Africa was around $460 per tonne fob Black Sea.
Fastmarkets’ weekly assessment of the price of cold-rolled coil (CRC) exported from the CIS fell to $510-530 per tonne fob Black Sea on January 14, compared with $530-555 per tonne fob Black Sea a week before.
Offers for Russia-origin CRC in the Mena region were heard at $520-530 per tonne fob Black Sea, from $555-560 per tonne fob Black Sea in late December.
Meanwhile offers of Ukraine-origin CRC in West Africa were heard at $570-580 per tonne cfr. However, traders’ freight rate costs estimations ranged between $60-70 per tonne, putting fob-basis CRC offers from Ukraine in West Africa at around $510 per tonne.
The price assessment for CIS-origin steel plate exports dropped to $510-555 per tonne fob Black Sea, from $545-589 per tonne last week.
Offers from Russian suppliers were heard at €495 ($568) per tonne fob Black Sea, down from €520 per tonne in December.
But the workable level for buyers was around €10 ($13) per tonne lower.
Offers of Ukraine-origin plate were at $570 per tonne cfr in West Africa, or close to $510 per tonne fob.
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