Prices for Russia-origin slab remained stable on-week, with only a small risk seen of values declining over summer despite the traditional seasonal lull.

Some mills tried to increase offers but interest from customers was subdued. Demand is seen rebounding in September at the earliest, when all market participants return from summer vacations.

Meanwhile, the new sales campaign may be more difficult for Russian sellers, considering the EU’s recent 11th package of sanctions that mandates importers prove the origin of inputs used in sanctioned iron and steel processed goods imported from third countries.

The devaluation of the rouble against the dollar was favouring slab exporters. Russia’s central bank set the exchange rate for 7 July at RUB 92.5695 per $1, compared to RUB 90.3380 a day before and RUB 80.9942 on 1 June.

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