CIS-based longs producers have increased their export offer price levels quite significantly over the past week, following the uptrend in the Turkish market. The billet and scrap segments have been also positive. In addition, local prices in Russia have been actively rising, making some mills reluctant to offer for export.
Export rebar offers from the CIS, Ukraine specifically, have risen by at least $50/mt over the past week to $600-610/mt FOB. Some sources report $10/mt higher levels. The lower end of the mentioned range has already been fixed in deals to Africa for medium-sized lots. Some Russian mills have been heard as quoting close to $640-650/mt FOB for rebar, but those levels are not considered as workable just yet.
In the local market, mills in the Central region of Russia are reportedly targeting $624-658/mt (RUB 55,000-58,000/mt) CPT Moscow, while in the south offers are mainly at $658/mt (RUB 58,000/mt) ex-works, SteelOrbis has learned.
Local prices in RUB include 20 percent VAT, prices in US dollars do not.
$1 = 73.46 RUB