According to report, the prices of hot rolled coils (HRC) and cold rolled coils (CRC) have remained the same for June deliveries from Russian and Ukrainian makers after May holidays in order to keep the prices stable.
However, most sellers faced pressure since buyers keep looking for lower prices.
Steelmaker like MMK delivered relatively small quantities for exports as it keep the price almost the same as previous month at US$540/ton FOB basis.
Ukrainian makers has dropped the price to US$ 510/ton FOB basis but foreign buyers still bid at lower price even at US$490/ton.
The buyers are much confident with lower prices since most steelmakers received less orders. Even the lower euro against dollar will not help the mills to keep the price the same to Europe market.
