CIS coil prices continue to decline

CIS HRC prices continued to weaken, but with the short-termrise in Chinese prices last week, some mills have tried to raise pricesslightly.At the beginning of last week, a Russian steel mill in theUral region said that the price of HRC was $470/t fob in the Black Sea and theprice of small rolls was $460/ton. The plant then raised its offer price by$5/ton to $475/ton and $465/ton respectively. Late-week chilled coil offersrose from $550/ton to $555/ton fob.

Although there is a continuing lack of demand in major exportmarkets, the plant has decided to raise its offer, but it is said that theplant has allotted its January product to the export market. Traders said theplant sold a large number of its products to subsidiaries outside Russia at aprice of about $470/ton fob.

Another steel mill exports to all markets from the St.Petersburg port in the Black Sea, and HRC is offered at €430/tonne ($490/ton)fob, including Europe, Turkey and Latin America. Traders say the price isequivalent to about $470/ton fob Black Sea and is unlikely to attract buyers.They said that Ukrainian HRC is offered at $455-460/ton fob.