RUSSIA FLAT STEEL: Market broadly stable as sentiment cools

The domestic market for flat steel in Russia’s Central Federal District around Moscow was largely stable in the week to Monday June 21, with most sources expecting either a rollover or even a downward correction in the short term, Fastmarkets heard.

Buying activity in the region slowed, partially affected by a weaker export market and unclear sentiment.
A new spike in the numbers of Covid-19 cases in the region, and the so-called “long weekend” announced by Moscow’s authorities for June 15-19, had little effect on steel market activity, however, according to sources.
“Only non-essential businesses were ordered to close. We continued to operate as usual,” one trader said.
Hot-rolled sheet

Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic,...

Published

Julia Bolotova

June 21, 2021

14:02 GMT

Dnipro