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Russian steel import prices to fall

Keywords: Tags  steel imports, Russian steel, hot-rolled coil, suspension agreement, Catherine Ngai

NEW YORK — Minimum prices for imported Russian hot-rolled steel will fall 2.9 percent across the board in the first quarter of 2014, the fifth consecutive quarterly decline under the amended suspension agreement.

Minimum prices for commercial- and structural-quality steel will drop to $523.52 per tonne from $538.94 per tonne in the Jan. 1 to March 31 period. High-strength low-alloy steel will fall to $575.87 per tonne from $592.83 per tonne in the same comparison, while high-grade coil and sheet for pipe and casing will fall to $670.10 per tonne from $689.84 per tonne, according to the U.S. Commerce Department’s Enforcement and Compliance division.

The lower minimum base prices come at a time when domestic mills continue to hold steady on higher pricing (, Dec. 6), which could provide more opportunity for traders to bring in foreign hot bands.

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