The market for hot-rolled coil (HRC) and cold-rolled coil (CRC) in the Commonwealth of Independent States continued to be poor over the past week because of unfavorable circumstances in most key outlets.
Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $535-555 per tonne fob Black Sea on Monday June 4, down from $545-560 per tonne a week earlier."The Middle East has [its seasonal lull in activity for the Islamic holy month of] Ramadan now, Turkey is preparing for elections, and in Europe buyers are worried by the weaker euro and by [US President Donald] Trump's decision [to impose a 25% import tariff on steel from the EU], so demand is weak almost everywhere," a trader told Metal Bulletin.The euro had fallen in value to trade at ?,?1 to $1.166 on June 4, compared...