Based on the market tendency and the further depreciation of the Russian ruble against the US dollar, Russia-based steelmaker Magnitogorsk Iron and Steel Works (MMK) is raising its prices for flat products effective from April 1, 2014. This price increase is also due to growing demand for flat steel materials in line with the end of the winter season.
Thus, as officially announced by the company today, March 14, MMK's prices for hot rolled coil and sheet will increase by 5-7 percent, its prices for HR plates will rise by 4-6 percent, its cold rolled coil and sheet prices by 6-9 percent, its HDG prices by 5-6 percent and its PPGI prices will increase by 5-7 percent.