After the export price of HRC from Russian to Middle Eastern market increases US$20/ton, the carbon steel market is getting stabilized.

However, traders still worry that if Russian price keep going up, price competition in the market among China, Korea and Japan would go more serious.

As local mills cut their output respectively, domestic market price seems more positive while the overall market is still weak and buyers only wish to buy limited quantity for improving stock level.

It is reported that Russian, Japan, and Mexican are offering more competitive prices at about US$400-440/ton.

SOURCE:YIEH.COM