Suppliers of hot-rolled (HR) and cold-rolled (CR) steel sheet to Russia's Central Federal District around Moscow have started to cut prices for traders due to low demand.
Fastmarkets MB's weekly price assessment for Russia-origin 4mm HR sheet was at 43,000-44,600 roubles ($657-681) per tonne cpt Moscow on Monday October 1, including 18% VAT, falling from 44,600-47,600 roubles per tonne a week before."Demand seasonally slows down in Russia at the end of September because construction activity starts to reduce," one trader told Fastmarkets. "That is why the secondary market has weakened further and dragged the primary market down."After the assessment was published, traders reported that price...