Recently, Russian hot roll export price at $560/ ton FOB Black Sea, month-on-month down $20/ ton. According to Mysteel, Russian hot coil export prices peaked in early September and late October (around $600/ ton) and have fallen since then. The current price hovers around $550- $560/ ton FOB.

 The export price of Russian hot coil fell, mainly because the low-cost resources in Asia still have competitive advantages in the market, among which, the export price of Chinese hot coil is $520/ ton FOB. It is understood that the price of Russian hot rolls will fluctuate according to the distance, the longer the distance, the lower the price. For example, compared with the Middle East countries, Turkey has a short distance, so the export price of Russian hot coil received by Turkish steel mills is basically $600/ ton CFR, while the price of some countries in the Middle East and North Africa is $580/ ton CFR. If the order quantity is large, the specific price can be negotiated to $530-540/ ton FOB. But the current volume of orders is weak.

 Turkish buyers for Russian hot roll offer, there will be further discussion of the decline of space. This is mainly due to the high volume of purchases from Asia two weeks ago, the fact that Asian resources are still competitive in the market, and the fact that Russian resources are subject to multiple sanctions, limiting their use.