CIS Steel Export Price Update
The update Steel export price from CIS: The Hot Rolled Coils producers come from CIS area tried to lift the steel export price by USD 20-25/short ton. The price is for the cargo of August production and September shipment. CIS mills informed that the reason of lifting price is following the increasing Chinese exporting price from the end of June to mid of July. The FOB Tianjin port, China price has increased by USD 45/MT.
However, a European trader indicated that the price from Chinese exporter has become soft besides the demand is keeping stable. The increased price is lack of strong support. Therefore, the action of lifting the price is only accepted by part of buyers.
At the moment, the HRC exporting price from CIS area has been increased up to USD 360-365/MT (FOB), comparing the last offering price by increasing USD 10/MT. The Cold Rolled Coil exporting price has been increased by USD 12.5/MT, up to USD 400-410/MT (FOB).
