Export prices for hot-rolled steel from Russia fall due to competition in Asia
Export prices for hot-rolled coils of Russian origin on Friday were estimated at $690-720/t FOB Black Sea compared to $710-745/t FOB March 30.
Prices for cold rolled coil also declined: quotes were around $770-805/t FOB Black Sea compared to $805-840/t FOB last week.
In Turkey, MMK's offers for hot-rolled steel during the week were $720-730 /t cfr. The operating level for the unauthorized plant was estimated at about $740-750/t cfr.
Freight from Russia to Turkey is estimated at about $30 /t.
Nevertheless, export allocation of flat products by Russian producers was reportedly limited, as manufacturers preferred to supply material in place despite lower prices. This happened against the background of difficulties with the organization of settlements for export transactions due to sanctions.
Domestic prices for hot-rolled coils in Russia were estimated at $630-640/t cpt Moscow excluding 20% VAT.
Competition with Asian suppliers in Turkey remained fierce against the backdrop of weak interest of Turkish buyers in imports.
Chinese Q195 hot-rolled steel was offered at a price of 665-670 USD per ton in Turkey , while SAE1006 was offered at $685/t. Indian and South Korean hot-rolled coils were quoted at $730-740/t