Domestic hot-rolled sheet steel prices in Russia's Central Federal District around Moscow have remained largely stable over the past seven days despite bullish moves by some producers, while the cold-rolled sheet price inched upward on tight availability, sources told Fastmarkets on Monday November 2.
Hot-rolled sheet
Buyers were cautious about further price rises in the hot-rolled sheet sector because of slowing downstream demand, sources told Fastmarkets on Monday.
But some said that maintenance work at Severstal, one of the main domestic producers, might result in tighter supply in November and support an increase in prices.
In early September, Severstal completed the first stage of the modernization of its Mill-2000, a hot-rolling line with capacity for 6 million tonnes per year, and was
planning to start the next stage in November.
Fastmarkets' weekly price assessment for
steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 43,000-44,000 roubles ($541-554) per tonne including 20% value-added tax on Monday, the same as last week.
The assessment was based on...