Weakening prices in the flat steel markets of Turkey and Europe, particularly for hot-rolled coil (HRC), meant that there were reduced bids for CIS export slab, Fastmarkets heard on Tuesday May 7.
Slow trading both domestically and in the export outlets was the major reason for the drop in finished flat steel prices.Given these conditions, bids for CIS-origin slab dropped significantly, dragging the price assessment downward.In Turkey, CIS-origin slab was available at $480-485 per tonne cfr, equivalent to $465-470 per tonne fob Black Sea. This was almost in line with recent HRC offers.Slab prices in the CIS spot...