RUSSIA FLAT STEEL: Slow buying continues to drag down flat steel prices

Slow demand continued exert downward pressure on flat steel prices in Russia's Central Federal District around Moscow, despite producer attempts to push for increases, sources told Fastmarkets on Monday June 1.

Buying activity in the region remained slow in the week to June 1, with traded volumes staying low, sources told Fastmarkets.
“Usually, at this time of the year, our sales are 30-40% higher [than they are now], one trader said,
Some producers have been trying to reduce output to support domestic prices, but slow consumption has stopped that having much of an impact.

“Magnitogorsk Iron & Steel Works (MMK)] offered about 20,000 tonnes of hot-rolled sheet to the domestic market in May instead of [its] usual 80,000 tonnes, and some other producers...

Published

Julia Bolotova

June 01, 2020

16:16 GMT

Dnepr