Türkiye and Asia remained the main sales markets for Russia. At the same time, negative trends prevailed in Türkiye as a result of the high volatility of the lira against the US dollar, the weak position of buyers in conditions of low liquidity and the stagnation of the market for finished products, as well as the growth of the key rate and the increase in income tax.
During the month, quotations of Russian suppliers in Türkiye were declining. Several small-tonnage deals with delivery in August were noted at $480/t CFR (port of Rostov: $450-453/t FOB). It is noteworthy that transactions from the Novorossiysk port were for $490/t CFR ($465-470/t FOB). At the same time, contracts at $480/t CFR were compensatory, to previously concluded deals at higher prices.
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