Internationally flat prices have fallen by $20-25/Mt in last
couple of weeks due to weak buying and excess supply. Nevertheless, most
players believe that prices are already at the bottom and will undergo just
slight fluctuations within the next month. “Although competition is
getting tougher in the region, export prices will get support from higher iron
ore quotations as well as gradual uptick in domestic demand from traders in
late June.” said China exporter of Flat steel.
Plate prices are under pressure whereas HR Coil prices have
managed to remain stable last week. China plate offer were down by $5-10/Mt
this week at $600/Mt, similarly India Plate offer will sooner be below $600 as
presently prices are trading at $605-610/Mt FOB.
However, foreign customers show no interest in these offers.
Along with the rainy season in SE Asia, demand for Chinese flats is affected by
strict competition with Russian suppliers who have reduced HRC prices to the
Far East by another $5/t this week, to $580/t FOB.
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