RUSSIA FLAT STEEL: Prices up as suppliers seek to regain premium

Domestic flat steel prices in Russia’s Central Federal District around Moscow picked up in the week to Monday October 26, pushed by bullish offers from mills. But buyers were cautious about hot-rolled sheet price growth, citing slow demand and sufficient stocks, sources told Fastmarkets.

Hot-rolled sheets
The mood in the HR sheet market in the region remained upbeat this week, with mills insisting on higher prices for November deliveries.
But demand was reported to have remained slow, with buyers having sufficient amounts of material in stock.
“The [price] growth is not demand-driven [because the] market is pretty slow. Producers are pushing for higher domestic prices to regain a premium over exports,” one trader said.
“Traders have large stocks, and demand is slow. Prices in the secondary market are 42,500 roubles [$557] per tonne at the highest, and we feel there is no room for an increase yet,” a second trader said.

Offers from key domestic producers for November were heard at 43,000-44,000...


Julia Bolotova

October 26, 2020

14:14 GMT