RUSSIA FLAT STEEL: Prices widen on higher mill offers

Domestic sheet steel prices in Russia’s Central Federal district around Moscow widened upward in the week to Monday July 6 due to higher offers from producers, although buying activity remained moderate, sources told Fastmarkets on Monday.

Trading activity in the flat steel markets in the region was moderate because most buyers had enough material in stock. But producers remained bullish and intended to increase their prices for July production.
Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($553-574) per tonne on July 6, including 20% VAT, up from 39,000-40,500 roubles per tonne a week earlier.
The assessment was based on offers and deals heard in the market.

Offers for July rolling from Severstal were heard at 40,500 roubles per tonne, sources said, while Magnitogorsk Iron & Steel Works (MMK) and Novolipietsk Steel (NLMK) were targeting even higher prices -...


Julia Bolotova

July 06, 2020

14:00 GMT