CIS rebar offers for export

British standard rebars ex-CIS are being offered for export at $440-450/mt FOB on actual weight basis, for July production. Prices increased compared to two weeks ago. After the increased recorded in wire rods last week, rebar prices also indicated an increase. Offers given to UAE are at around $480-490/mt CFR. It is also possible to hear offers at $425-430/mt FOB for Gost standard. Chinese origin rebar and wire rod prices increased last week due to the possible cut in Chinese tax duty. The increase in billet and scrap prices in Black Sea and Mediterranean can be the main reason of the pick up in CIS origin rebar and wire rod. However, it is very interesting that this increase come across with the surge in Chinese origin material.