Prices for Russian steel slabs in Black Sea ports rose to 475–480 dollars per ton by the end of April – this is the maximum since the beginning of 2025. At first glance, the market is growing, but behind this is not a recovery, but a weakening of demand and pressure from external factors.
The price increase is primarily due to reduced supplies from Iran after attacks on metallurgical facilities, as well as an increase in logistics costs amid the situation in the Middle East. Additional influence comes from expensive iron ore and freight, which increase production costs.
At the same time, the key market – Turkey – shows weak demand. Local metallurgists are switching to domestic raw materials and lowering prices, which limits the opportunities for Russian suppliers even against the backdrop of rising quotes.
A separate risk is China. The reduction in exports from China temporarily supports the market, but the unprofitability of some Chinese enterprises could lead to a new round of dumping when supplies resume.
As a result, a contradictory situation is emerging: prices are rising, but fundamental demand remains weak. Without a sustained recovery, the market could quickly move into correction.
