RUSSIA FLAT STEEL: Prices up after rouble loses ground against US dollar

Prices for flat steel in Russia’s Central Federal District around Moscow started to move up this week after the rouble lost value against the US dollar, sources told Fastmarkets on Tuesday, March 10.

Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 42,000-43,000 roubles per tonne on March 10, including 20% VAT, up from 41,000-42,000 roubles per tonne a week before.
In dollar terms, however, the price fell over the week due to the softening of the exchange-rate value of the Russian rouble.
On March 10, the dollar price for HR sheet price was $567-580 per tonne cpt Moscow, down from $630-645 per tonne on March 2.

The US dollar was trading at $1 to 73.88...


Marina Shulga

Julia Bolotova

March 10, 2020

18:12 GMT