Posted on 10 Nov 2008
Global flat-rolled price falling at slower rate
Global flat-rolled price keeps on dropping but recently it has been falling at a slower rate.
China’s secondary steel mills are offering US$450/ton while primary steel mills are offering US$500/ton at present. It’s said that Ukrainian steel mills are even offering under C&F US$400/ton but this has not yet been confirmed.
However, the highest price of HRC was C&F US$1,200/ton but it plunged quickly during the past 4 months because buyers adopted a wait-and-see attitude, coupled with weak demand. Moreover, with the price of PRQ level HR being higher, buyers are not interested.
Russia and Ukraine would like to divest its stocks but Taiwan is reluctant to buy even with the HR price down to C&F US$400/ton.
