Russian HRC Steel prices remain firm in October

RUSSIA November 04 2015 9:15 AM

MOSCOW (Scrap Register) : Hot rolled coil figures, in Russia, held firm in October, according to MEPS. Transaction values continued to be underpinned by robust shipments to domestic tube and pipe fabricators.

Commodity plate traders have begun to implement winter trading protocols. Additionally, several have expressed concerns that the recent strengthening of the rouble has made the hot rolled plate segment more susceptible to low cost imports from the Ukraine and other countries.

Already sluggish sales of Russian wire rod are likely to weaken further with the approach of the seasonal slowdown in consumption. Meanwhile, stockists are currently purchasing structural sections on a requirement basis only, due to price uncertainty and the close proximity of the country’s winter trading period.

Buying sentiment for rebar has weakened. Distributors remain reluctant to carry excess inventory into the winter trading period. Material is currently being purchased just on a requirement basis as a result. Exporters have also faced a deteriorating business environment.