Steel hot-rolled sheet prices in Russia’s Central Federal District around Moscow have softened first time since mid-April on the seasonal slowdown, sources told Fastmarkets on Monday September 9.
Fastmarkets’ weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 43,000-44,900 roubles ($655-684) per tonne on September 9, including 20% VAT. This was down from 45,100-45,500 roubles per tonne a week before.
“It is time for the seasonal slowdown in construction. Buyers understand that and some of them would prefer to postpone purchases in anticipation of lower prices,” one source said.
Novolipetsk Steel (NLMK), one of the key flat steel suppliers to the region, was heard to cut its HR…