RUSSIA FLAT STEEL: Offers rise on rouble weakness

Flat steel suppliers to Russia’s Central Federal District around Moscow have started to push for higher prices, citing the weakness of the rouble against the US dollar, sources told Fastmarkets on Monday March 16.

Demand in the secondary market remained low, however, which meant that there was little support for any price rises.
Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 43,000-44,000 roubles ($580-593) per tonne on March 16, including 20% VAT. This was up from 42,000-43,000 roubles per tonne a week before.
In dollar terms, despite the increased offers in roubles, the price was largely stable over the week, due to the softening of the exchange-rate value of the Russian currency.



Julia Bolotova

March 17, 2020

12:15 GMT