Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 44,500-45,000 roubles ($706-714) per tonne on July 22, including 20% VAT. This was up from 43,000-44,500 roubles per tonne a week before.
“Demand is seasonally good now, so mills tried to increase their prices after a long period of stability,” one trader told Fastmarkets.
Construction, the key steel-consuming sector in Russia, starts to recover in late March and slows down in late autumn and winter due to the poor weather conditions.
Novolipetsk Steel (NLMK) has increased...