Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States adopted a wait-and-see attitude toward the market in the week ended Monday March 26, trying to avoid price declines, sources told Metal Bulletin.
"Prices are coming down and the market [for CIS-origin flat steel] seems to be frozen," a trader said.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $605-625 per tonne fob Black Sea on March 26, unchanged week on week."Mills are not offering because the market is falling," another source told Metal Bulletin.The China HRC Index was $571.56 per tonne fob on March 26, a drop of $49.25 per tonne from March 6, when the downtrend started.Russian exporters were not active in the market, holding their offers of April-rolled material unchanged at $620-625 per tonne fob Black...