MMK increases rebar prices for March

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

Product                              Price 

10 mm                           Ruble 17,990/mt ($681)
12 mm                           Ruble 17,226/mt ($652)
14 mm                           Ruble 16,606/mt ($629)
16 mm                           Ruble 16,452/mt ($623)
18-25 mm                        Ruble 15,200/mt ($576)
28-40 mm                        Ruble 14,710/mt ($557)

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 = 26.41 Rubles