The Black Sea hot rolled coil export market was quiet throughout the week as Russian suppliers focused on the domestic market. SteelRadar's price assesment for HRC is $575/t FOB Black Sea.
Since the export duties were introduced in late September and amid local demand, Russian exporters have stayed out of the market.
Early in October, due to unfavorable market conditions like intense competition and rising freight costs, export wire rod prices from Russia began to decline. Freight costs from Russian ports have recently increased by $5-15/t. Following the imposition of export duties in September, Russian mills attempted to raise prices earlier but were unsuccessful, bringing the asking prices for wire rod down to $540/t FOB.
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