RUSSIA FLAT STEEL: Mills, stockists pessimistic about static pricing

Prices for hot- and cold-rolled steel sheet in Russia’s Central Federal District around Moscow showed no change week on week in the seven days to Monday August 2, with a mood of pessimism among both mills and stockists, sources have told Fastmarkets.

A pricing downtrend developed in the steel plate sector, and this was expected to reach other market sectors later in the month.
Hot-rolled sheet
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.

Published

Elina Virchenko

August 03, 2021

19:24 GMT

Dubai