RUSSIA FLAT STEEL: Mills raise offers but prices broadly flat on reluctant buyers

Domestic flat steel prices in Russia's Central Federal District around Moscow were largely flat in a week to Monday October 12, despite producers' bullish attempts to raise prices.

Buyers are cautious of further rises in the hot-rolled sheet segment because of slowing downstream demand and sufficient stocks, sources told Fastmarkets on Monday.
Hot-rolled sheet
Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia remained at 42,000-43,000 roubles ($547-560) per tonne including 20% value-added tax on Monday, unchanged week on week.
Several market sources told Fastmarkets that key domestic suppliers to the region, including NLMK and Severtstal, have increased HR sheets prices effective for November deliveries to 44,000-45,000 roubles per tonne cpt.

But buyers did not consider the price as "workable" given tepid downstream demand and quite high stocks at traders. This difference in pricing...

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