The flat product export levels corrected mildly though maintained a negative trend for the 4th consecutive week as the offers from Black Sea remained competitive despite rally last week.
The yawning gap of USD 50 per tonne to USD 60 per tonne between the Black Sea and Chinese levels yet made the going tough for the Chinese material in the sub continent.
The offer levels from Black Sea and China are neck to neck at Indian shores at USD 700 per tonne and USD 705 per tonne CNF respectively taking the glint away from the Chinese offers. However with the initiation of improvement in some quarters has led to arousal hopes of revival which might take couple of weeks to percolate.
Turkish and CIS mills have maintained a positive posture for June booking proclaiming full order books for May. This is likely to set a positive momentum in the short run . Moreover European market showing first signs of turnaround with an average Euro 10 per tonne improvement during last week has certainly provided spark to the downstream HDG also.
( Source: www.steelguru.com )