The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States (CIS) remained constrained this week, but a spike in iron ore price has led to optimism that flat steel prices will not fall further, sources told Fastmarkets.
Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $450-460 per tonne on Monday September 2, unchanged week on week."Iron ore prices [have risen] and, based on that, everyone is saying there will be no further HRC price declines," one source from the Middle East and North Africa (Mena) region said. Fastmarkets' daily index for iron...