Mills to cut prices in November

摘要

Domestic prices for uncoated flat products have not changed in October. Some foreign suppliers, namely Severstal, have reduced prices by $15- 20/t. A drop in sales has made traders cut purchases from mills. Having replenished stocks in August-September, Iranian traders are now buying much smaller amounts of CIS flat products. Thus, in the first half of October, HRC from ArcelorMittal Kryvyi Rih and MMK was quoted at $690/t FOB Caspian Sea, down $25/t from the previous month, the price will possibly decrease further this month, for the mills have not yet closed their order books for November production.