It is seen that steel prices are going down more and more on all products.
Ukrainian HRC is offered at prices ranging USD 630 per tonne to USD 640 per tonne CFR FO Mediterranean ports without any buyer available to book.
HRP is also following the same trend with customers looking for prices lower than EUR 550 per tonne. However other more quality Mills are still looking for much higher prices, still close to EUR 600 per tonne or minimum EUR 560 per tonne.
Pig iron is again decreased and now a days if offered at USD 480 per tonne to USD 485 per tonne CFRFO Mediterranean ports.
In any case all buyers have inserted the back gear and no one is available for the time being to book any quantity as the consolidated sentiment is that prices are bound to further decrease. Most of the buyers are on hold and waiting for the last week of May or first one of June to come back in the market and negotiate new tonnages for August September shipment.
Most probably this move will keep a negative price trend with a possible improvement only after the above mentioned new purchase shift.