Russia's hot rolled coil export market fell during the week due to low demand in regular sales regions and strong competition with Asian suppliers.
Price assessment for steel hot-rolled coil, export, FOB Black Sea, CIS, was $570-620 per tonne on Tuesday, down by $35 per tonne from $605-655 per tonne a week before.
In contrast to earlier offers of $600-620 per tonne CFR, China offered HRC at $585-600 per tonne CFR to Turkey for shipping in late June. The latest offers of non-sanctioned material from Russia were heard at $655-660 per tonne CFR, close to $625-635 per tonne FOB. Meanwhile, the latest offers of material that was affected by sanctions were heard at $620-630 per tonne CFR, about $590-605 per tonne FOB.
Weekly price assessment for steel cold-rolled coil, export, FOB Black Sea, CIS, was $665-715 per tonne on Tuesday, down from $700-750 per tonne a week before, in line with the HRC assessment.
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