Russia’s Severstal, one of the key hot rolled coil exporters, has recently fixed a new record price level in export sales. The company has sold a limited batch of big coils at $640/mt FOB and expects this level to be the new normal next week. Previously, Severstal had traded a total of 15,000 mt within the range of $620-630/mt FOB for the same coil weight, SteelOrbis has learned. “Today, it is logical to sell in small lots and to keep increasing the price. The market is hot,” a source said.