The market for exports of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) was quiet during the week ended Tuesday May 7 because of the start of the Islamic holy month of Ramadan in the key outlet markets.
Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $465-480 per tonne fob Black Sea on May 7, declining from $470-495 per tonne fob a week earlier."The market doesn't die but it slows down during Ramadan. Demand will rebound closer to the end [of the period]," one trader from the Middle East-North Africa (Mena) region told Fastmarkets.Ramadan started...