According to market sources, some Russian steel producers have increased their flat steel prices by five percent on average over the past month. Market sources say that one of the main reasons for the price increase has been the weakening of the Russian ruble against the US dollar. Despite the increase in their flat steel prices, local producers' offers in the Russian flat steel market are more attractive than import offers, including offers from China.
In the Russian domestic market, prices of hot rolled sheet (HRS) of 2-12 mm thickness have increased by $15/mt over the past month to the range of $575-580/mt ex-works, while prices of cold rolled coil (CRC) of 0.7-2 mm thickness have increased by $10/mt in the same period to $605-620/mt ex-works, both for shipments in December. The prices include 18 percent VAT.