MMK decreases rebar prices for January

The Russian Magnitogorks Iron and Steel Works (MMK) has announced an average drop of six percent, depending on product specification, in its domestic rebar prices for January 2007 shipment. The average price levels are as follows:

Product                                 Price 

Rebar 8-10mm (coil)                     Ruble 16,360/mt ($622)
Rebar 12mm (coil)                       Ruble 15,055/mt ($572)
Rebar 10mm                              Ruble 17,430/mt ($663)
Rebar 12mm                              Ruble 16,358/mt ($621)
Rebar 14mm                              Ruble 15,795/mt ($600)
Rebar 16mm                              Ruble 15,655/mt ($595)
Rebar 18-25 mm                          Ruble 14,752/mt ($561)
Rebar 28-40 mm                          Ruble 14,268/mt ($543)

The above-mentioned prices are only valid for shipments to the Ural, Siberian and Far East regions of Russia. All prices exclude VAT. Exchange rate: 1 US Dollar = 26.23 Rubles