As the steel demand from Far-East area market increased, both Russia and Ukraine planed to increase their production and raised the steel product price.
Both hot rolled coil price and cold rolled coil price in CIS countries increased by about US$30/ton and US$60/ton respectively. And the quote price of hot rolled and cold rolled steel for February production was at US$400~440/ton and US$450~500/ton respectively.
Buyers from Middle East areas are expected to come back to the market in the second quarter. And buyer in South East areas has begun to purchase hot rolled plate steel recently. There is about 5,000 tons of Russia’s hot rolled plate steel to arrive at Singapore in April or May. Source:Yieh.com