MMK decreases HR prices for January 2007

The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has decreased its HR domestic prices for January 2007 shipment. The domestic price for HR has been reduced on average by three percent to Ruble 17,024/mt (approx. $647) depending on the region and material specifications, excluding VAT and delivery. The above price level is only valid for shipments to the Ural, Siberian and Far East regions of the Russian Federation. Exchange rate: 1 USD = Ruble 26.3