TAMPA, Fla. Minimum
prices under the Russian hot-rolled steel suspension agreement
will fall some 0.94 percent across the board in the second
Under the new reference prices,
effective April 1 to June 30, the minimum prices for
commercial- and structural-quality steel from Russia will fall
to $578.33 per tonne from $583.80 per tonne in the Jan. 1 to
March 31 period; high-strength low-alloy steel will fall to
$636.16 per tonne from $642.17 per tonne; and high-grade coil
and sheet for pipes and casings will fall to $740.26 per tonne
from $747.26 per tonne, according to data released March 1 by
the U.S. Commerce Department.
Only about 1,406 tonnes of
Russian hot-rolled sheet and 1,407 tonnes of plate in coils
were licensed to arrive at U.S. ports since the beginning of
the year through Feb. 27, import license data from the Commerce
Departments Import Administration show.
Steel traders have recently said that hot-rolled sales into
the U.S. market, particularly from Russia, have been difficult
due to a tight spread between domestic and imported material.
Imported steel could begin to look more competitive, however,
if recent hikes in domestic steel sheet and plate prices stick,