Press releases

Iran buoys up sales for Russian coil exporters - 23 November 2011

Russian coils export prices
August - December 2011, FOB $/t

©SBB 2011


Aug 11

Sep 11

Oct 11

Nov 11

Dec 11*


 690 - 705 

 700 - 715 

 640 - 650 

 590 - 620 

 600 - 630 


 780 - 810 

 810 - 850 

 740 - 750 

 685 - 710 

 690 - 730 

* SBB forecast, except announced surcharges

Russian hot and cold rolled coils exporters appear to be active in selling their December and, in some cases, January tonnages, with prices varying widely. "Iran appears to have been the biggest buyer – the market would look very different without it," a sales executive of MMK told Steel Business Briefing.

Other mills are looking to the same market: NLMK is said to have sold to Iran considerable quantities of both coils and slab at "surprisingly good prices," sources familiar with the mill say. The favourable logisitics of selling to Anzali port meant NLMK managed to achieve $650-685/t fob Astrakhan for its HRC and $685-705/t for CRC, for January production/February load readiness, sources say.

Meanwhile, MMK is said to be "offering and selling" December production of HRC at $590/t fob Black Sea, and Severstal at $580/t fob Baltic Sea for February load readiness, traders say. "MMK stopped offering slab – this is a good sign and generally it feels easier today to close deals," one source says.

However, the situation is far from resolved, according to other sources, who say the single most depressing factor – lack of liquidity – remains, and is unlikely to go away speedily.

"European crude output seems to have changed little last month, proving again that production cuts in Europe so far largely remain an empty talk," the trader adds. Much depends on iron ore prices: should they continue falling, the necessary cuts are even less likely, he says, adding that Russian material offers best quality/price combination today in the market.


Steel news in English | 中文 | Português | Español | Deutsch | Italiano | Русский

© 2022 by S&P Global Inc. All rights reserved.
Back to top  Back to top