The flat steel market in Russia moved up on new bullish offers for May deliveries, backed by a skyrocketing export market and good buying activity, sources told Fastmarkets on Monday April 19.
*** flat steel market in Russia , Hot-rolled sheet
HR sheet offers for May from Severstal were heard at 92,000 roubles ($1,216) per tonne for stockists, compared with a preliminary offer of 86,000 roubles per tonne heard from the mill last week. Other key suppliers to the region, Novolipietsk Steel (NLMK) and Magnitogorsk Iron & Steel Works (MMK), were yet to give firm offers for May.
Trading activity in the region was generally good, with buyers seeking tonnages out of anticipation that the price will rise more in May.
“There is a hype in the market, brought by crazy export prices in the first place. Buyers are rushing to secure tonnages, but we are not sure it can last long,” one trader said.
Meanwhile, buyers gave “workable” prices from mills of about 90,000 per tonne.
In the secondary market, HR sheet from large traders was heard offered at 92,000-94,000 roubles per tonne, up from 81,000-85,000 roubles per tonne last week.
Based on the market activity reported to Fastmarkets, the weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia increased to 90,000 roubles per tonne on Monday, including 20% value-added tax, up from 78,000-80,000 roubles per tonne last week.
Several sources confirmed that continuous prices rise in the export flat steel market in Russia remained a key driver for domestic price increases because local flat steel producers were tracking external markets while they set their prices.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS has been rising steadily and on April 19 was $945-995 per tonne, up by $50-80 per tonne from $895-915 per tonne on April 12. The price had been at $815-830 per tonne a month ago on March 22.
*** Cold-rolled sheet
Fastmarkets’ weekly price assessment for steel cold-rolled sheet, domestic, cpt Moscow, Russia was 100,000-100,500 roubles per tonne on Monday, up from 97,000-98,000 roubles per tonne a week earlier.
Severstal gave an offer for May CR sheet at 100,500 roubles per tonne cpt, sources said.
One stockists said he managed to book 2,000 tonnes of CR sheet at 100,000 roubles per tonne from a local mill late last week.
In the secondary market, CR sheet was offered at about 105,000-107,000 roubles per tonne by a large trader, up from 104,000 per tonne week on week.
MMK and Asha Steel were reported to have sold some plate volumes to the region at 80,000 roubles per tonne last week and were expected to come back with new prices later this week.
As a result, Fastmarkets’ weekly price assessment for steel plate, domestic, cpt Moscow, Russia was 80,000 roubles ($1,057) per tonne on Monday, the same as last week.
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