Prices for hot- and cold-rolled steel sheet in Russia's Central Federal District around Moscow went down as expected in the week ended Monday August 9, while the price of steel plate was stable despite downbeat sentiment among both mills and stockists, sources have told Fastmarkets.
Hot-rolled sheet
Two key flat steel producers reduced their prices for HR sheet over the week by 7,200-7,500 roubles ($98-102) per tonne.
It has become clear to all market participants that the prevailing price trend on the market was downward, so traders have been trying to sell their HR sheet inventories as quickly as possible, offering stock at prices lower than producers' current offers, thus reinforcing the downtrend.
"We make purchases only when we have a confirmed order from a client. We don't buy for stock now,"...