NEW YORK Minimum prices
under the Russian hot-rolled steel suspension agreement will
fall 3 percent across the board in the first quarter of
Under new reference prices,
effective Jan. 1 through March 31, commercial- and
structural-quality steel will fall to $583.80 per tonne from
$601.75 per tonne in the period from Nov. 30 to Dec. 31;
high-strength low-alloy steel will fall to $642.17 per tonne
from $661.92 per tonne; and high-grade coil and sheet for pipe
and casing will fall to $747.26 per tonne from $770.24 per
tonne, according to data released Wednesday by the U.S.
The deal was amended earlier
this month after the Commerce Departments International
Trade Administration determined that the original agreement,
which dates back to 1999, was no longer able to prevent price
amm.com, Dec. 3).
Traders have said it will be
difficult to sell Russian steel in the United States because of
the lack of price spread between domestic and imported
material. However, lower prices could lead to sales moving
forward, depending on domestic mills success in keeping
tags up after their most recent set of price hikes.
No Russian hot-rolled sheet or
plate in coils arrived at U.S. ports from Dec. 1 through Dec.
11, according to license data from Commerce Departments
Import Administration. In contrast, 93.6 tonnes of hot-rolled
sheet and 1,053 tonnes of plate in coils arrived in