The CIS-based long products exporters have made an attempt to increase their prices over the two weeks, taking into account the positive situation in the local market of Russia specifically. In addition, Turkey has been trending up, although the developments in the flats segment are much more favourable.
According to sources, the rebar offers from Russia are at $620-630/mt FOB for May shipments, up by around $10-15/mt over two weeks. Ukrainian supplier has announced a minimum of $640-650/mt FOB with the increase of at least $25-30/mt since late-March. In the European market the offers from Russia have been reported at €660/mt delivered.
In the wire rod segment, most of the ex-CIS offers are in the range of $700-715/mt FOB, up by $10-15/mt over the week. Some indications have been reported at close to $750/mt FOB but they are not considered workable at all.
Overall, despite the mentioned price increases, the market players still evaluate that the actual workable levels are much lower - $610-620/mt FOB Black Sea for rebar and $680-690/mt FOB for wire rod, SteelOrbis understands.
