It is reported that the flat product market at Black Sea, similar to longs, continued to remain under pressure this week with hardly any transactions.
The main development has been that Ukrainian HRC suppliers are now joined by Russian mills.
During the week, while the Ukrainian HRC got cheaper by USD 30 per tonne to USD 50 per tonne Russian’s lost about USD 20 per tonne to USD 30 per tonne.
But the price is quite theoretic. There are some, fortunately quite limited, offers from the ports for Ukrainian material at less than USD 550 per tonne, but no demand even at this level.