CIS CR exporters raise offers but face weak demand

Demand for CIS cold rolled coil exports has slackened as producers begin to make offers for August production, market sources told MB.

Russia’s Magnitogorsk Iron and Steel Works is offering CRC at $1,280 per tonne cfr, Turkey, August production and Severstal is offering at $1,295 per tonne cfr, Turkey, August production, according to sources.

Ukraine ’s Zaporizhstal will offer HRC and CRC above $1,180 per tonne fob BS, August production, and their offers for CRC and HRC will be at similar levels due to a drop in CRC demand, according to market sources.

The last recorded export transaction prices were at $1,040-1,065 per tonne fob Black Sea, June production for HRC and $1,090-1,130 per tonne fob Black Sea, June production for CRC.

One major domestic CIS buyer told MB he secured 6,500 tonnes of CRC from NLMK at $1,130 per tonne ex-works, August production.

“We wanted to buy more than that, but they had no free capacity,” said the buyer. “I think the prices will stay stable over the next few months.”

CIS domestic CRC is selling at $1,130-1,250 per tonne ex-works, according to MB’s pricing archive.