RUSSIA FLAT STEEL: Buying cools following export duty announcement

Flat steel market in Russia's Central Federal District in Moscow was broadly flat in the week to Monday June 28 with most producers preferred to roll over their price into July amid softer trading activity while buyers assessed the impact of recently introduced export duties on the domestic market.

Russia on June 25 approved export duties on 340 metal products, including hot-rolled steel, effective between August 1 and December 31, 2021.
The news sparked concerns among buyers regarding the further price trend in the domestic market.
Hot-rolled sheet
Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 105,000-106,000 roubles ($1,454-1,467) per tonne on Monday, including 20% value-added tax, narrowing upward from 104,000-106,000 roubles per tonne cpt the week before.

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