CIS FLAT STEEL: HRC price dips on deals at lower levels; scrap rebound boosts sentiment

The export price for steel hot-rolled coil from the Commonwealth of Independent States (CIS) narrowed downward after deals were done at lower levels during the week to Monday February 15, but the general market mood improved due to higher scrap prices in Turkey.

Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS was $690-705 per tonne on Monday, down on the high end of the range from $690-715 per tonne a week earlier.
There were several sales of Russia-origin material heard to Turkey - the key outlet for flats exports from the CIS. One supplier sold a cargo at $715 per tonne cfr there, or about $700 per tonne fob. Another supplier sold HRC at $720 per tonne cfr in Turkey, or close to $705 per tonne fob.

"Once scrap prices started to increase last week, demand for flat products increased in Turkey,"...

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