Market awaits further price rises for Russian domestic flat steel

One of the key suppliers of flat steel products to Russia’s Central Federal District around Moscow increased its December price for hot-rolled (HR) steel sheet during the week ended Monday November 22.

Buyers were now waiting for other producers to announce their prices before acting, sources told Fastmarkets.
Despite higher prices for HR sheet from Severstal, some traders believed that November prices may be rolled over to December by other producers, taking into consideration the expected slower demand during winter and falling prices in the secondary market.

Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 76,000-80,000 roubles ($1,023-1,077) per tonne on Monday, inclusive of 20% value-added tax. This price range widened upward by 4,000 roubles per tonne from...

Published

Elina Virchenko

November 23, 2021

16:40 GMT

Dubai