MMK decreases HR prices for November

The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has decreased its flat rolled domestic prices for November shipment. The domestic price for HR has been reduced on average by 3 percent depending on the region and material specifications. The domestic price for CR has been reduced on average by 3.3 percent depending on the region and material specifications. The average price levels are as follows:

 
Product      Rate of decrease            Price 

HR           Ruble 519/mt ($19)         Ruble 17,657/mt (approx. $659)
CR           Ruble 600/mt ($22)         Ruble 17,854/mt (approx. $667)

The above price levels are only valid for shipments to the Ural, Siberian and Far East regions of the Russian Federation. All prices exclude VAT. Exchange rate: 1 USD = Ruble 26.78