MMK raises structural steel prices for October

The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has raised its structural steel domestic prices for October shipment. The domestic price for angle increased in average by 2 percent depending on the region and the material's specifications. The domestic price for channel bar increased in average by 3 percent depending on the region and the material's specifications. The average price levels are as follows:

 
Product             Rate of increase             Price

Angle st3sp/ps       Ruble 384/mt ($14)   Ruble 14,295/mt (approx.$534)
Angle 09G2S          Ruble 274/mt ($10.5) Ruble 16,783/mt (approx.$627)
Channel bar st3sp/ps Ruble 219/mt ($8)    Ruble 15,129/mt (approx.$565)
Channel bar 09G2S    Ruble 260/mt (10$)   Ruble 17,764/mt (approx.$664)

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 26.76