Russia-based flats producers have recently announced their domestic offers for October production and, unfortunately due to low demand, they have been forced to provide very significant discounts.
As a result, hot rolled sheets in the local market in Russia are now priced at $856/mt (RUB 75,000/mt) ex-works, down by $156-167/mt (RUB 14,000-15,000/mt) over the past month. Cold rolled sheets are now available again from all three key producers at $978/mt (RUB 86,000/mt) ex-works, having dropped by $159-182/mt (RUB 14,000-16,000/mt) depending on the mill. “Demand does not exist. Prices are decreasing and so mills will stand at the lowest announced level,” a producer told SteelOrbis.
Local prices in RUB include 20 percent VAT, while prices in US dollars do not.
$1 = RUB 73
