Recently, CIS steel mills have continued rising export quotes of hot rolled steel as the market has been recovering and the EURO has appreciated against the US dollar.
In fact, CIS steel mills’ export quotes of HR steel dropped in April due to weak demand. However, HR steel quotes were up by USD 10 per tonne to USD 15 per tonne in April as the demand recovered and the EURO appreciated against the US dollar.
It’s known that Russia’s Magnitogorsk Iron and Steel Works increased the hot rolled coil quotes to USD 700 per tonne FOB from USD 680 per tonne FOB in the end of April. Furthermore, the company raised the prices to USD 720 per tonne FOB in May.
( Source: www.steelguru.com )