51st IREPAS meeting held in Kiev under sponsorship of SteelOrbis

51st IREPAS meeting held in Kiev under sponsorship of SteelOrbis

The 51st IREPAS (International Rebar Producers Association) meeting is being held in Kiev, Ukraine during the dates of October 3-4 2004, under the sponsorship of SteelOrbis. During the producers session, it has been acknowledged that the rising trend in scrap prices internationally is expected to keep its stance. As for today, the Black Sea scrap price level for the Turkish market is pronounced at $270/mt CFR, with sales at such level already being confirmed. The producers have concluded that, the international scrap prices will continue their upward movement, and by the first quarter 2005, anticipations are that the prices may even reach as high as $300/mt levels. Consequently Q1 expectancy is that the billet prices will be at $400/mt FOB levels, or even higher numbers might be seen in case the scrap price reaches $300/mt or above, while the price for rebars is expected to be at $440-450/mt FOB price range. As for wire rods, mesh quality is foreseen to be in the $510-520/mt FOB range. Price estimation for low carbon wire rods is to be around $530-540/mt FOB and $580/mt for high carbon.