[Corrects calculation of prices with VAT.]
Prices for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia’s Central Federal District around Moscow have increased this week with mills trying to keep their domestic market profitability high compared with export sales.
Metal Bulletin’s weekly price assessment for Russia-origin 4mm HR sheet on Monday August 20 went up to 44,600-46,600 roubles ($663-693) per tonne cpt Moscow, including 18% VAT. This compared with 44,000-44,100 roubles per tonne a week ago.
Novolipetsk Steel (NLMK) and Severstal, two of the principal suppliers to the region, increased their prices for stockists to around 44,600 roubles per...