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Doom prevails at steel export market at Black Sea

Steel News - Published on Sun, 29 Jul 2012

The Black Sea based CIS steel export market remained week amid the Ramadan period in MENA, shrinking European market and higher competition with suppliers from the region on the exports markets and lower iron ore prices.

Due to USD/EUR exchange rate there are quite competitive offers of all materials from billets to finished products.

Billet price decreased by about USD 10 per tonne to come close to the last low of USD 620 per tonne FOB seen in early January of 2011.

Finished longs prices also went down by around USD 10 per tonne as the market remained slow amid limited buying activity and uncompetitive prices.

Finished flats also have negative dynamic. But amid limited availability of the Ukrainian HRCs for sale with almost no Ilyich offers latest bookings of the material from the country took place up a shade higher than previous week. Bur the premium for Russian material dropped to negligible level of USD 5 per tonne as Russians cut the prices.

Source - Strategic Research Institute

Posted By : admin on Sun, 29 Jul 2012
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