According to market source, with the stable CIS export prices previous week, the prices of hot rolled coils this week are picking up gradually as Russian mills have been able to settle at US$575/ton to US$585/ton CFR.
The billet price also has increased by US$15/ton this week. Even though the buying is active, prices could be up by US$ 10/ton to US$20/ton from the previous week level.
Moreover, one main Russian mill has made offer price at US$520/ton FOB Novorossiysk, basis + extra. Prices could have been up by US$25/ton to US$ 30/ton from November shipments.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61626&division=A2
