Russia's Severstal says U.S. steel prices off Jan highs

Newswire

MOSCOW, March 29 (Reuters) - Russia-based steelmaker Severstal said prices for hot band steel in the U.S. have stabilised at about $740 per metric tonne after falling almost 10 percent from January highs as demand remains robust. "Currently, the demand continues to be strong, but with increased imports and a couple of restarts of domestic capacity we saw some short term downward pressure on pricing," Sergei Kuznetsov, Chief Executive of Severstal International and North America, told the ...

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