CIS producers not in a hurry to issue flat steel offers

The markets continue to wait for the emergence of new offer levels from the Russian and Ukrainian flat rolled steel producers. Russian producer NLMK has started to quote its March rolling offer levels in the market, while other Russian producers MMK and Severstal have not yet decided on the new levels they will offer. Severstal, which normally announces its price levels within the first week of each month, seems to be waiting to gauge the direction of the market before making a move this time. The new price levels of NLMK are heard to stand in the range of $830-840/mt FOB.