RUSSIA FLAT STEEL: Mills eye rising export market in setting higher domestic prices

The flat steel market in Russia’s Central Federal District around Moscow moved up on new bullish offers for May deliveries, backed by a skyrocketing export market and good buying activity, sources told Fastmarkets on Monday April 19.

Hot-rolled sheet
HR sheet offers for May from Severstal were heard at 92,000 roubles ($1,216) per tonne for stockists, compared with a preliminary offer of 86,000 roubles per tonne heard from the mill last week. Other key suppliers to the region, Novolipietsk Steel (NLMK) and Magnitogorsk Iron & Steel Works (MMK), were yet to give firm offers for May.
Trading activity in the region was generally good, with buyers seeking tonnages out of anticipation that the price will rise more in May.



Julia Bolotova

April 19, 2021

14:16 GMT