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CIS's HRC exporters plan to raise prices
The export business of the Commonwealth of Independent States concerning hot rolled coils (HRC) has been quite weak this week.
In view of the output in July and the support of the local CIS market, prices in some markets have risen slightly. At the same time, in Turkey, competition with Indian and Chinese suppliers still exists. Despite the demand for materials, this forces buyers to be cautious when purchasing from the Commonwealth of Independent States.
Trade with Europe slowed down, but suppliers continued to receive support, while demand in other markets was mostly moderate.
The latest official offer for hot rolled coils produced in July in Ukraine this week was 1,040-1050 U.S. dollar per ton, CFR, Turkey (1025-1035 U.S. dollar per, FOB, Black Sea), and last week it was 1030-1040 U.S. dollar per ton, CFR (1015-1025), FOB). The supplier is testing the market with a higher price, but there is no transaction. "Manufacturers are trying to monitor Turkey's domestic market and are considering quotations from Asia as a temporary alternative. In the final analysis, this is all about traditional suppliers," a source told Metalexpert. At the same time, Russian companies have not yet entered the market.
Severstal offers surplus hot rolled coil produced in July in Northern Europe at a price of 1,275 U.S. dollar per ton, FOB, Baltic, while interest in Southern Europe remains moderate. Last week's offer was at 1220-1280 US dollar per ton, FOB, depending on the direction.
