CIS has dropped US$15~40/ton for Turkish market, but buyers are still showing resistance.
CIS’ HRC is being offered at US$410~445/ton for March shipment, while it was US$420~460/ton last week. The price of CRC declined from US$500~510/ton CFR to US$460~510/ton.
China’s quotation for HRC to be delivered in February is US$510~590/ton CFR, and that of CRC is US$600~640/ton. Traders said steel mills have been working hard to raise the price since last year, but Turkey’s import demand is slum. Besides, CIS and China raised their import duty from 13~15 percent, it is hard to succeed in raising the quotation.
Even if the current offer down, the new offer to be released by the CIS mills and ArcelorMittal Steel in Galati next week or before the end of the month is said likely to rise. Source: Yieh.com
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Wednesday, February 18, 2009
12:41 |
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