Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($676-681) per tonne on Monday August 19, including 20% VAT.
“Mills are citing planned upcoming maintenances and [are keeping] prices high,” one trader told Fastmarkets. “That would [make] sense if the stoppages could cause some shortage in the market, but trader stocks [are] chockablock with material - there is more than enough steel in the market.”
Another trader said there were indications that prices should fall.
“[The] secondary market can’t pay such high prices [any] longer, that is why [traders have] increase discounts,” he said. “We follow the export market and see that it...