At the same time, metallurgical plants do not intend to lower factory prices for sheet products. The costs are already quite high, and with the beginning of the New Year they may become even a little higher. Export quotations for Russian hot-rolled steel have been practically constant over the past few weeks and fluctuate only along with the ruble exchange rate, which has again fallen below 90 rubles per dollar.
Current Russian HRC (offer) prices accessed by SteelRadar are as follows:
MMK $630 FOB Black Sea ($655 CFR)
NLMK $635 FOB Black Sea ($660 CFR)
Severstal $630 FOB Black Sea ($655 CFR)
In China, in the next few weeks, before the New Year according to the local calendar, the national hot-rolled steel market will be relatively balanced; significant price fluctuations, including in exports, are unlikely. Growth is possible in the spring, but this will depend, first of all, on macroeconomic indicators. European hot-rolled steel producers announced increases in the first quarter before Christmas. Consumers, in turn, expect a decrease in prices by spring.
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