Competition in the export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States has been intense over the past week, because suppliers preferred to hold back their offers despite a continued price decline for China-origin material.
Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $605-625 per tonne fob Black Sea on Monday March 19, widening downward by $5 per tonne compared with the previous week.The China HRC Index was $591.94 per tonne fob on March 19, a drop of $28.87 per tonne from March 6, when the downtrend started.Ukraine-origin HRC was on offer in West Africa at $660 per tonne cfr. This price would be close to $610 per tonne on...