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20 Aug

CIS HRC flat, CRC softens on higher freight

CIS flat products exporters continue to hold offers above $900/tonne fob Black Sea for September rolling allocations, but buyers are largely on the fence or bidding below these levels, Kallanish learns from market sources. The softening of the market caused by sliding feedstock prices and weakening Chinese sentiment against the backgroud of severe lockdowns in Asia is stirring talks of possible production cuts by Russian suppliers. This is in order to relieve…
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