CIS FLAT STEEL: Market down; buyers expect further cuts

The export market for flat steel products from the Commonwealth of Independent States went down again in the week to Monday September 20 because buyers were still cautious and were still expecting a further reduction in prices.

Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS, was $840-865 per tonne on Monday, down from $850-870 per tonne a week before.
"Overall market sentiment is negative because offers have been falling week on week. That is scaring buyers and not encouraging demand," one buyer said. "Prices will continue to drop until the end of the year, especially with the declining property sector in China and a slowdown in Europe."

Offers of Russia-origin HRC were reported in Turkey at $880-900...

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