Russian steelmaker Severstal raised its prices for February-shipment hot-rolled steel sheet for customers in the Central Federal District around Moscow on Monday January 17, and other Russian producers were expected to follow suit.
Despite slow activity and weak demand in winter, the price rise was possible because supplies of HR sheet were limited by maintenance work at various producers, sources told Fastmarkets.
In the steel plate sector, however, the availability of alternative supplies may limit the opportunities for increased February-shipment prices.
Offers of HR steel sheet were limited by modernization of equipment at Novolipetsk Steel (NLMK), Severstal and Magnitogorsk Iron & Steel Works, according to market participants. So despite the normally weak demand in winter, there was no pressure...