Russian steel sheet, plate prices rise again on strong demand, low supply

Russian steel mills have received a glut of orders for November deliveries of flat steel products, with active buying interest among stockists pushing up prices for hot-rolled steel in the country's Central Federal District around Moscow in the week to Monday November 1, sources have told Fastmarkets.

The approaching expiry of the temporary export duty of $115 per tonne on hot-rolled (HR) sheet and $133 per tonne on cold-rolled (CR) sheet supported the rise in domestic prices, according to market participants. The duty was scheduled to expire on December 31 this year.
Hot-rolled sheet
Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, widened upward to 72,000-76,000 roubles ($1,011-1,067) per tonne on Monday, inclusive of 20% value-added tax, from 72,000-75,000 roubles per tonne cpt a week earlier.
November-delivery material was sold out at prices in the range of 72,000-73,000 roubles per tonne, traders said.

Limited volumes of November-delivery HR sheet from Magnitogorsk Iron...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold