Domestic prices for flat steel in Russia's Central Federal District around Moscow continue to rise, driven by strong demand, shortages, and rising export tags, sources told Fastmarkets on Monday May 24.
Hot-rolled sheet
Magnitogorsk Iron & Steel Works (MMK) announced offers for June HR sheet at 105,000 ($1,426) roubles per tonne, while offers from Severstal were at 104,000 roubles per tonne, sources said.
Novolipietsk Steel (NLMK), meanwhile, is yet to give a firm offer for its HR sheet.
"We received volumes [of HR sheet] from NLMK for safekeeping but they haven't given a price yet," a stockist said.
Traders who have stocking agreements with steel mills receive material into stock without payment and can then buy agreed tonnages from the...