Buying activity softened further in the export markets for hot-rolled coil and cold-rolled coil (HRC, CRC) from the Commonwealth of Independent States during the week ended Monday September 16, because prices have been falling too fast.
Fastmarkets’ price assessment for steel HRC, export, fob Black Sea, CIS, was $420-435 per tonne on September 16, down from $430-438 per tonne a week earlier.
“There were several purchases [of Russia-origin HRC] last week, but after this prices dropped by $10-15 per tonne. That is too fast. Who will buy today if there is a possibility that tomorrow prices will drop a lot? That kills demand,” one…