Minimum prices for imported Russian hot-rolled steel under the
suspension agreement have fallen 5.04 percent, the third
consecutive quarterly decline.
Under the new
reference prices, effective from July 1 to Sept. 30, minimum
prices for commercial- and structural-quality steel from Russia
will drop to $549.20 per tonne from $578.33 in the April 1 to
June 30 period. Minimum prices for high-strength low-alloy
steel will fall to $604.11 per tonne from $636.16 in the same
comparison, while high-grade coil and sheet for pipe and casing
will fall to $702.97 per tonne from $740.26, according to data
from the U.S. Commerce Department.
Some 1,022 tonnes of
Russian hot-rolled sheet was approved to arrive in the United
States in the second quarter through June 4, while about 2,664
tonnes of Russian plate in coil arrived in the same period.
The lower minimum base
prices come at a time when traders say its challenging to
import hot-rolled coil due to the tightened spread between
domestic and foreign tags.
Commerce will issue
reference prices for the Oct. 1 to Dec. 31 period no later than