As per latest information, the CIS steel export market trends at Black Sea remained once again in negative territory this week pushing billets to 26 months low an HRC to 31 month low

Billet market is nominal right now without noticeable deals tracked to provide firm indications. Generally, the most regional producers offer around USD 510 per tonne FOB Black Sea, but demand is far below the indication and this may push prices down amid still available semis for October.

It is heard that some producers are even looking at USD 500 per tonne FOB to secure volumes, lowest since August 2010.
(www.steelprices-india.com)

Finished longs are also under pressure lacking demand, but producers still resist remarkable price decrease.

Finished flats prices also decreased by around USD 10 per tonne. Price for Ukrainian HRC is nominal as the reaction for the recent decrease of the Russian prices is not clear yet. The Russian mills in the last days went out with offers by around USD 10 per tonne below the previous week level

Source - Strategic Research Institute

(www.steelguru.com)