Low demand keeps Russian HR, CR steel sheet prices subdued

Attempts by Russian steel mills to increase their prices for December deliveries of hot-rolled (HR) and cold-rolled (CR) sheet steel products in the country’s Central Federal District around Moscow were unsuccessful during the week ended Monday December 6, due to seasonally soft demand, sources told Fastmarkets.

An exception was steel heavy plate, for which a price increase was supported by limited supply from the mills.
At the end of November, some producers offered material to traders for December delivery without a specific price. Those traders booked smaller volumes than expected, covering only their minimal monthly requirements, or preferred to skip purchasing due to the uncertainty of price developments in the near term, sources told Fastmarkets.
Amid this lower demand, the higher December prices for HR and CR sheet were not achieved, and values instead remained close to those at the end of November.
Hot rolled sheet

Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 76,000-77,000 roubles ($1,027-1,041) per tonne on Monday, inclusive of 20%...

Published

Elina Virchenko

December 07, 2021

19:20 GMT

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