RUSSIAN STEEL MARKET ROUNDUP FROM
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
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.
Source: MEPS -
Steel Review - October Edition
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