MMK increases rebar prices for April

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

Product                              Price 

10 mm                           Ruble 19,860/mt ($762/mt)
12 mm                           Ruble 18,992/mt ($729/mt)
14-16 mm                        Ruble 18,392/mt ($706/mt)
18-25 mm                        Ruble 17,518/mt ($672/mt)
28-40 mm                        Ruble 16,970/mt ($651/mt)

The above 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 = 26.05 Rubles