The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) plans to further increase its steel prices for the domestic market in May.
As per the release posted by MMK's official distributor, MMK intends to increase its steel product prices by the following margins:
Product group | Rate of increase |
HR up to 16 mm | 21% |
HR 16.01-160 mm | 5-8% |
CR | 18% |
Galvanized steel | 10% |
Galvanized pre-painted steel | 7% |
CR pre-painted steel | 7% |
Meanwhile, MMK plans to increase its domestic rebar price by Ruble 2,000/mt ($85/mt) in May.