MMK adjusts flat prices for February

The Russian Magnitogorsk Iron and Steel Works (MMK) has adjusted its domestic prices for galvanized steel and flats with polymeric coating for February 2007 delivery. The domestic price for both galvanized sheet and galvanized coil has been decreased by two percent. On the other hand, the domestic price for galvanized coil with polymeric coating has gone up by three percent, while that of CR with polymeric coating has been increased by two percent. The average price levels are as follows:

Product                                 Price  

Galvanized sheet (GOST14918)            Ruble 24,709/mt ($931)
Galvanized coil (GOST14918)             Ruble 26,210/mt ($987)
Galvanized coil with polymeric coating  Ruble 34,321/mt ($1,293)
CR with polymeric coating               Ruble 27,791/mt ($1,047)

The above-mentioned price levels are only valid for delivery to the Ural, Siberian and Far East regions of Russia. All prices exclude VAT. Exchange rate: 1 US Dollar = 26.55 Rubles