Russia takes advantage of China’s market absence, raises HRC prices

Russian HRC suppliers are seizing the opportunity to push prices higher, capitalizing on recent market developments and the temporary absence of their Chinese competitors due to the ongoing holidays. The current price levels for Russian HRC shipments scheduled for November have risen to around $490-500/t FOB Black Sea, a notable increase from $475/t just two weeks ago.

This price hike is largely driven by the seasonal retreat of Chinese suppliers from the global market, creating a window for Russian mills to adjust their pricing strategies upward. Without the usual competition from China, Russian suppliers are taking advantage of the reduced supply to introduce higher offers and secure better margins.

The surge in Russian HRC prices marks a shift in market dynamics as suppliers quickly responded to the temporary gap left by China's holiday season. The question now is whether these higher prices will persist when Chinese suppliers return to the market, potentially reshaping the competitive landscape once again.