Domestic flat steel prices in Russia rise on new February offers

Domestic prices for flat steel in Russia have risen over the past week, with offers for February output being announced at levels higher than what January-rolled products were sold at.

“We are not buying either hot rolled sheet, or cold rolled sheet, or plate,” a source at a large trading company said.
“This is crazy. I don’t know how long will the producers be able to stand by their offers, but our customers don’t want to buy at these prices,” the trader source added.
Normally, steel product prices in Russia go down in winter due to reduced activity in the construction sector as a result of freezing temperatures.

However, due to the rally in coking coal prices and the subsequent rise in export prices...

Published

Nadia Popova

January 31, 2017

11:00 GMT

Moscow