Posted on 10 Apr 2023
Russian hot rolled coil export prices have declined due to competition from Asian suppliers and low interest from Turkish buyers for imports, market participants inform Kallanish.
Russia-origin HRC export prices were assessed at $690-720/tonne fob Black Sea on Friday, down from $710-745/t fob on 30 March.
Cold rolled coil prices were also down, with quotes at around $770-805/t fob Black Sea compared to $805-840/t fob the previous week.
In Turkey, MMK's HRC offers were reported at $720-730/t cfr during the week. The workable level for the non-sanctioned mill was assessed at around $740-750/t cfr.
Freight from Russia to Turkey is estimated at around $30/t.
However, allocations of flat products from Russian producers for export were reported to be limited, as producers preferred to supply material locally, despite lower prices. This was amid difficulties in arranging payments for export deals due to sanctions.
Domestic HRC prices in Russia were assessed at around $630-640/t cpt Moscow, excluding 20% VAT.
Competition with Asian suppliers in Turkey remained fierce amid weak interest from Turkish buyers for imports.
Chinese Q195 HRC was on offer at $665-670/t cfr Turkey, while SAE1006 was offered at $685/t cfr. India and South Korea-origin HRC were quoted at $730-740/t cfr.
Source:Kallanish
