Steel continues growing in price

The Russian largest steel producers NLMK, Cherepovets metal works of Severstal and MMK have raised their prices for different sorts of rolled steel. In March, NLMK raised prices for hot rolled steel by 3-4%, and for cold rolled steel by 1-1.5%. MMK raised prices for hot rolled steel by 2-3%, and for steel with polymer cover by 3-4%. Internal prices rose by 3-6% in March depending on sorts of products, with exception for transformer steel, NLMK representative confirms. Cherepovets metal works raised prices by 2-10% depending on sort of steel.

This growth is not the first in 2014. The NLMK representative says that the reason is growth in export parity. Metal Courier explains that by ruble devaluation, and maintenance of activity at the external markets and a reduction in the attractiveness of imported goods. The majority owner and the Chairman of the Board of Directors of NLMK, V. Lisin says that imports share 20% or 8 million tons in internal steel consumption.