The Black Sea based steel export market for semis, long products and flat products was once again in downturn last week as pressure of economic uncertainty increased amid weak demand.
Billet price decreased by USD 20 per tonne to USD 30 per tonne, but the market quotations are not consolidated. Generally, offers from the big players were in the higher band but some deals were reported at lower range as well provoked by Russian ruble devaluation and needs to close cash flow gaps.
Finished longs prices followed slide in billets prices and as such there was not much activity on the market.
Finished flats price also decreased by around. The market demand is slow, so possibly quotations may deep further.
( Source: www.steelguru.com )