Flat steel prices in Russia's Central Federal District around Moscow moved up on new bullish offers for June material, supported by growing exports and strong local buying activity, sources told Fastmarkets onTuesday May 11.
Hot-rolled sheet
Hot-rolled sheet was on offer from Severstal to traders for June delivery at 104,000 roubles ($1,405) per tonne, sources said, compared with 92,000 roubles per tonne for May-delivery material heard from the mill in late April.
Other key suppliers to the region, Novolipietsk Steel (NLMK) and Magnitogorsk Iron & Steel Works (MMK), have yet to provide firm offers for June, sources added.
Trading activity in the region was reported to be generally good, because buyers...