Russian steel mills seek hikes in domestic offers as ruble tumbles

摘要

Russian domestic steel prices keep firm as local producers are trying to offset the drastic price cuts in the export markets in light of the Russian ruble sharp devaluation during the week, sources said on Friday. The Russian currency lost some 20% of its value against the US dollar in the last four weeks. At the same time steel suppliers in Russia have been keeping their ruble-denominated prices in the local market strong.