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...