Large traders in Russia's central region around Moscow have not resumed hot rolled (HR) and cold rolled (CR) steel sheet purchases despite lower offers from mills.
"We didn't buy material last week because according to our stocking agreement we can wait," one stockist trader told Metal Bulletin. "We had a short working week due to the [Russian public] holiday [June 11-12] and the World Cup slowing down activity in the market," he added. Traders with stocking agreements receive material into stock without payment and the material remains the property of the steel producer. Stockists can buy tonnages from the stocks they hold at any time during a...