Export prices keep falling, but domestic prices hold firm despite weakening demand

摘要

CIS export prices lost another $10-20/t m/m as negative trends have persisted in the exportmarket. In contrast, domestic sheet prices in Russia have stayed firm despite a contractingeconomy, primarily due to large orders from pipe producers. There is hope for CIS sheet export prices to finally see a trend reversal, even if temporary, ifdomestic sheet prices in China continue in the upward direction. However, with a fallingrouble, domestic prices in Russia are likely to move up in an already weak market.