The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow has softened further this week, reflecting the pessimistic mood on exports, sources have told Fastmarkets.
Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was 42,970-43,000 roubles ($656-657) per tonne cpt Moscow on Tuesday October 16, including 18% VAT. This was down from 43,000-43,900 roubles per tonne a week before."In addition to the seasonal slowdown, the domestic market is under pressure because of a weak export market," one trader told Fastmarkets. "Our buyers see that exports are weak and they are waiting [to hear] lower prices in the domestic market as...