Metal Packaging Raw Materials Market Information: Russian Hot And Cold Coil Prices Continue To Fall

Currently, the prices of Russian hot and cold coils continue to fall, both down by about 5-10 US dollars month-on-month. The export price of hot coils is at the level of 490-510 US dollars FOB Black Sea; the export price of cold coils FOB is at the level of 600-620 US dollars. Due to the relatively weak domestic and foreign demand and the drop in the price of raw scrap steel materials, the steel price has lost support. In addition to the pressure on consumption, from the current economic level of Russia, the recent US sanctions on the Russian financial industry have led to the accelerated depreciation of the Russian ruble, which is also one of the reasons.