Steel sheet prices rise again due to strong demand

Sources said that Russian steel mills received a surplus of orders for November deliveries of flat products, while strong buying interest from listed companies drove up prices for hot rolled products in the country's Central Federal District near Moscow a week before Monday, November 1. Market participants said the impending expiration of a temporary export duty of $ 115 per tonne for HR sheet and $ 133 per tonne for cold rolled (CR) sheet supported domestic prices. The duty was due to expire on December 31 of this year. Hot Rolled Sheet Fastmarkets' weekly hot rolled steel sheet price estimate rose to RUB 72,000-76,000 (USD 1011-1,067) per tonne on Monday, including 20% ​​value added tax, from RUB 72,000-75,000 per tonne cpt a week earlier. Rolled metal products delivered in November were sold at prices in the range of 72-73 thousand rubles. per ton, traders said.