According to market sources, Russian steel producers have increased their hot rolled coil (HRC) prices by five to six percent over the past month while their cold rolled coil (CRC) prices have been increased by eight percent in the same period, both on average. Unstable Russian ruble has encouraged consumption and hence Russian producers have succeeded in their attempt to keep local consumption on acceptable levels. However, this time of the year steel trade in Russia traditionally slows down and Russian producers are focusing on export markets to increase their sales. Currently, main export destinations are Europe, Middle East and North Africa markets.
In the Russian domestic market, prices of hot rolled coil (HRC) of 2-12 mm thickness are currently in the range of $500-525/mt CPT Moscow, while prices of cold rolled coil (CRC) of 0.7-2 mm thickness are at $565-610/mt CPT Moscow, both for January productions. The prices include 18 percent VAT.
$1 = RUB 54.12