CIS FLAT STEEL: Global uncertainty pushes prices down

Uncertainty in the global flat steel market caused by falling prices for exports from China has been affecting demand and putting pressure on the market for exports from the Commonwealth of Independent States (CIS), sources told Fastmarkets on Monday February 17.

Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $460-480 per tonne on Monday, down from $470-485 per tonne a week before.
"There is too much uncertainty in the market now. HRC prices from China and Turkey are weak," one trader said. China is seen as the key trend-setter in the global market while Turkey is a competitor for CIS exporters in the Middle East-North Africa market.

Fastmarkets' steel HRC index, export, fob main port China, had fallen by $39.28 per tonne to...

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