RUSSIA FLAT STEEL: Domestic prices keep falling on oversupply, limited exports

Prices for flat steel products in Russia’s Central Federal District around Moscow continued to fall in the week ended Monday September 13, on good availability of hot-rolled (HR) sheet from local producers and the export price shadowing the domestic downward trend, sources have told Fastmarkets.

Tubes and pipes makers, key customers which buy large volumes of hot-rolled coil, were able to achieve further discounts from domestic mills. And the lower prices for tube and pipe makers were also applied to HR sheet cut from coil, mainly traded by stockists.
Prices for hot-rolled (HR) steel plate and cold-rolled (CR) sheet continued to move downward in line with HR sheet prices, according to the sources.
Market participants believed that the bearish market mood was likely to continue through to the end of the construction season in Russia in late October-early November.

They also expected that the country’s current export duties on steel products would not be extended into 2022. That may support local prices from late November onward, when Russian mills will start to sell...


Elina Virchenko

September 14, 2021

16:18 GMT