CIS resource bidding export Russian slab continues to bottom

 It is understood that market participants in the Commonwealth of Independent States have returned to the market one after another after the end of the Hari Raya holiday last week. And Russian slab prices continued to cut to attract buyers due to low-priced resource offers from Ukraine. The source said that the main buyer of CIS resources is Turkey at present. Last week, the slab price in the Donbas region of Ukraine was 500-520 US dollars / ton CFR Turkey, which put pressure on Russian resource suppliers. This week, the price of Russian slab was also reduced to 520 US dollars / ton CFR Turkey level, down about 30 US dollars / ton from last week.

Severstal and Magnitogorsk Iron & Steel Works (MMK) currently sell slabs in the market, while NLMK and Evraz have traditionally been the main slab sellers in the Russian spot market, but due to the related sanctions, Severstal and MMK lost most of their finished steel export opportunities and are therefore looking for opportunities in the slab market.


From：http://boilersteelpipe.com/news/industrynews/cis-resource-bidding-export-russian-slab-continues-to-bottom.html

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