Russian steel mills increased their prices for November deliveries of hot-rolled (HR) and cold-rolled (CR) steel sheet in the country's Central District around Moscow on Monday October 18, despite buying interest being cooler with the end of the construction season, Fastmarkets has heard.
The good demand and active purchasing by stockists at the end of September, for October deliveries, were now slowing down with construction heading into the off-season from November to March.
Mills continued to raise their prices, but some stockists were skeptical whether producers would be able to achieve the increases in full, considering the falloff in demand.
As a result, large traders preferred to abstain from massive restocking exercises, despite holding relatively low stocks, according to market participants.
Hot-rolled sheet
Fastmarkets' weekly price assessment for
steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 70,000-72,000 roubles ($986-1,014) per tonne on Monday, inclusive of 20% value-added tax, up by 2,000-3,000 roubles ($28-42) per tonne from
67,000-70,000 roubles per tonne cpt a week earlier.