Ex-CIS long steel offers

According to market sources, rebar offers from the CIS region to the export markets have softened in line with expectations, declining by $10/mt over the past week to $420-430/mt FOB. Meanwhile, ex-CIS wire rod offers have decreased by $10/mt on the upper end to $430-440/mt FOB in the same period. Ex-CIS rebar and wire rod offers to export markets are expected to decline further in the coming period following the rapid downtrend of global scrap prices seen this week.