Domestic prices to go down in November

摘要

In September, domestic prices for uncoated HR sheets have not been revised in Kazakhstan. Some Russian suppliers have raised quotations by 2-3%. Consumer activity stays moderate in the world markets. After selling most of September HRC output at $690-700/t FOB Caspian Sea thanks to steady demand from Iranian buyers, CIS suppliers began offering October rolling $5-10/t higher. In the short term, however, export quotations for HR coils will hardly move further up. After building up enough stocks, major consumers are expected to begin curtailing purchases in October-November, so FOB prices may decrease by $5-10/t per month.