Export price trend reversal in coming months to support domestic prices

摘要

Russian mills used open pricing for CR flats shipments in October. Pro-ducers retroactively cut September prices by 3-6%, but increased offersfor October again to RUB 50,000-50,500/t. Most traders were not willingto buy at that level. Trade companies kept getting CR sheets to theirsafe custody warehouses, but mainly old stocks were sold, as traderswaited for price revision. Our forecast is based on the fact that mills’minimal prices will approach stockists’ prices in October.