Further HR steel price decline questionable in Russia

摘要

Russian HR steel quotes kept decreasing in December due to weaker demand and prices in both stockist and internationalmarkets. At the same time, suppliers expect stable prices in January, given limited imports and the VAT increase.Certain sellers adjusted prices for October-November products retroactively, resulting in quite a wide rangeof RUB 40,000?42,000/t ($600?630/t; here and below with 18% VAT, CPT Moscow; $1 = RUB 66.75) versusRUB 42,000?43,000/t ($630?644/t) a month before. The negative adjustment reflected the lack of demand and weakerdomestic stockist prices, as well as international ones. Although stockists were expecting bigger discounts, an accidentat ArcelorMittal Temirtau helped mills gain stronger positions.