Export prices for steel slab from the Commonwealth of Independent States dropped in the week to Monday July 5 amid decreasing finished flat steel values in the region, as well as a possible increase in supply through July before Russia imposes an export duty on metal products in August.
"The price trend in hot-rolled coil has affected the slab sector. MMK [Magnitogorsk Iron & Steel Works] scared everyone last week with urgent low-priced HRC sales," a mill in Russia said.MMK was reported to have sold more than 150,000 tonnes of HRC for July shipment...