Russian HRC market has experienced a notable slowdown

Market participants reveal that HRC producers are increasingly favoring local trade, citing robust domestic demand and more favorable trading conditions. Interestingly, foreign interest in Russian HRC has waned, with potential customers opting for more enticing offers from alternative suppliers.

For Turkish clients, no HRC offers have been made in the previous few weeks. Russian HRC is estimated at $560/ton FOB Black Sea. Despite acknowledging the competitiveness of Chinese offers, Russian suppliers assert that demand is weak, potentially leading to a decrease in prices due to existing prime costs. Meanwhile, sub-sanctioned producers have maintained a consistent offering of HRC at $570-573/t FOB in recent weeks.