Market sources indicate that Russian steelmakers have entered the market with their August production hot rolled sheet (HRS) and cold rolled coil (CRC) offers. Demand in the local Russian flat steel market is expected to be lower in August as compared to the demand levels observed in June and July, though this has not affected price levels yet, with offers mainly remaining at the same levels as one month ago.
Russian mills' August production material prices, which are on ex-works basis, are as follows:
Product | Price ($/mt) |
HRS 2-2.49 mm | 685-700 |
HRS 6-12 mm | 655-680 |
CRC 0.50 mm | 765-780 |
CRC 0.70-2 mm | 720-740 |
The offers are for September shipments and include 18 percent VAT.