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.

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