The principal flat steel suppliers to Russia's Central Federal District around Moscow have increased their prices on seasonally good demand, sources told Fastmarkets on Monday July 22.
Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 44,500-45,000 roubles ($706-714) per tonne on July 22, including 20% VAT. This was up from 43,000-44,500 roubles per tonne a week before."Demand is seasonally good now, so mills tried to increase their prices after a long period of stability," one trader told Fastmarkets.Construction, the key steel-consuming sector in Russia, starts to recover in late March and slows down in late autumn and winter due to the poor weather conditions.Novolipetsk Steel (NLMK) has increased...