A pricing downtrend developed in the steel plate sector, and this was expected to reach other market sectors later in the month.
Nominal prices for hot-rolled sheet from major mills were unchanged, and there were no deals heard at the official prices, according to distributors.
Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia
, was unchanged on Monday at 95,000-97,000 roubles ($1,301-1,328) per tonne, including 20% value-added tax.
The assessment was based on offers and market participants’ indications of achievable prices.
Magnitogorsk Iron & Steel Works (MMK) became a price setter for August, and announced a price of 95,000 roubles per tonne cpt for both hot-rolled sheet and plate.