Flat product prices to drop in early Q3

摘要

In June, quotations for Chinese HR coil of SS400 grade have gone up by $7/t m-o-m, to $725/t FOB. HR sheet produced in Russia has grown in price by $17/t and is currently offered at $728/t FOB Black Sea. Domestic consumption of flat products will decline in China in late June- August. In the previous years, domestic market of China used to enjoy stable consumption and a gradual price increase in summer, as production indices in machine-building, oil and gas industry and construction did not decrease in Q3 of 2009 and 2010.