CIS-based longs producers have activated exports in the recent weeks, given the increase in demand in some foreign destinations and also the abolition of the export sales tax in Russia. Still, local demand remains good for Russian mills even despite the winter season, during which activity usually declines.
Rebar export prices for most destinations have been reported at $700-710/mt FOB Black Sea, more or less in line with offers from Turkey. Some activity has been seen in the European market where local offers have increased. According to sources, NLMK has been selling at an FOB Black Sea equivalent close to $800/mt FOB, but this price is definitely considered to be an exception and is not achievable in other destinations.
In the wire rod segment, offers from Ukraine have been reported at $790-800/mt FOB for March shipments, while ex-Russia prices have been heard at the lower end of the range with $5-10/mt discounts considered possible.
In the local market in Russia, rebar prices are at $707-718/mt (RUB 65,000-66,000/mt) ex-works/CPT. Mills report the demand is better than expected during the winter period, although prices are close to the regular export prices, and so they are looking to sell to both domestic and foreign customers.