Russia’s Severstal continues to enjoy positive business in Europe and, moreover, the producer has managed to increase its sales prices significantly in the most recent deals to the northern part of Europe. The price increase in the local market, announced by ArcelorMittal in Europe, has spurred demand.
This week, Severstal sold a total of 40,000 mt of hot rolled coil (HRC) within the range of $745-755/mt FOB. At the end of last week, deals for similar volumes were closed at $710-725/mt FOB, as SteelOrbis reported earlier. The latest transactions are mostly for February production but some volumes may be already allocated for March.
