Domestic prices for flat steel products in Russia’s Central Federal District around Moscow were stable or slightly higher in the week to Tuesday June 1, despite shaky sentiment concerning exports, with prices supported by short availability, Fastmarkets has heard.
Hot-rolled sheet ***
Offers for June-rolling hot-rolled (HR) sheet from Magnitogorsk Iron & Steel Works (MMK) were heard at 105,000 roubles ($1,430) per tonne, but several sources said that the mill had already run out of volumes to sell.
Severstal was offering HR sheet to traders at 104,000 roubles per tonne, while one stockist reported an HR sheet offer from Novolipetsk Steel (NLMK) at 106,000 roubles per tonne.
Buying activity in the region was reported to be good and largely unaffected by the downtrend in exports.
“In the domestic market, we are still seeing mills pushing for higher prices amid short supply,” one trader said.
“Demand is still strong [and] buyers active,” a second trader said.
Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 104,000-106,000 roubles per tonne on June 1, including 20% value-added tax, widening upward from 104,000-105,000 roubles per tonne on May 24.
In the secondary market, HR sheet from large traders was on offer at 110,000-113,000 roubles per tonne on May 24, widening upward from 110,000-112,000 roubles per tonne last week.
Cold-rolled sheet ***
Fastmarkets’ weekly price assessment for steel cold-rolled (CR) sheet, domestic, cpt Moscow, Russia, was 118,000-120,000 roubles per tonne on June 1, widening upward from 118,000 roubles per tonne last Monday
Severstal has offered June material at 118,000 roubles per tonne, while NLMK has offered CR sheet to stockists at 120,000 roubles per tonne, sources said.
Availability of CR sheet in the market was reported to be limited and sources therefore expected prices to remain firm in the short term.
Plate ***
Fastmarkets’ weekly price assessment for steel plate, domestic, cpt Moscow, Russia, remained at 104,000-105,000 roubles per tonne on June 1.
June volumes from key suppliers MMK and Asha Steel were on offer at 104,000-105,000 roubles per tonne.
And Ukrainian mill Metinvest was offering some small volumes of plate to the region at about 105,000 roubles per tonne cpt, Fastmarkets heard.
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