Russian flat rolled domestic prices to rise in June

Russian domestic prices in the segment of flat rolled products are likely to maintain the upward trend for at least next two months. This statement is supported by price rise initiatives of the domestic flat rolled producers. Thus, Novolipetsk Steel (NLMK) announced base price rise on HR steel, except for pre-painted ones, by 2 percent and on HR GOST8568 by 5 percent for June shipments. In addition, NLMK announced the cancellation of discount system for North-Caucasus region, Ural and Siberia regions, which factually raised the price by further 3-4 percent on NLMK origin HR. In the segment of CR the base price of NLMK products will rise by 3 percent. Severstal, the other major Russian producer, intends to raise the domestic prices on HR by 7 percent and CR by 5 percent for June shipments. MMK as well plans to raise the prices for flat rolled products in average by 3-4 percent for June shipment.