RUSSIA FLAT STEEL: Mill plans to raise HR sheet, plate prices likely to face buyer resistance

Steel mills announced price increases for November-delivery hot-rolled sheet and heavy plate in Russia's Central District around Moscow on Monday October 11, but are likely to face stiff opposition from buyers, sources told Fastmarkets this week.

Market participants said they doubted that such fast rates of increase could be absorbed by the market, especially considering the onset of the off season for demand, which runs from November to March, and the already-sufficient stock levels at distributors.
Hot-rolled sheet
Fastmarkets’ weekly price assessment for steel hot-rolled sheet domestic, cpt Moscow, Russia was 67,000-70,000 roubles ($933-975) per tonne on Monday, inclusive of a 20% value-added tax, up by 2,000-3,000 ($28-42) from 65,000-70,000 roubles per tonne cpt a week earlier. 
HR sheet was on offer from Novolipetsk Steel (NLMK) at 67,000 roubles per tonne cpt for redemption during October for traders with safe-stocking agreements.

Certain...

Published

Elina Virchenko

October 13, 2021

10:37 GMT

Dubai