Trading activity in Russia’s steel rebar market has been increasing lately, influenced by seasonal factors. Still, the recovery is more gradual than rapid, but suppliers have been increasing their prices for May production and by rather significant margins.
According to sources, in the central region of Russia local rebar offers have increased by $45-56/mt (RUB 5,000-6,000/mt) over the past three weeks to $626-637/mt (RUB 57,000-58,000/mt) CPT Moscow. In the southern region prices have been set at $615-626/mt (RUB 56,000-57,000/mt) ex-works, up by $12-23/mt (RUB 2,000-3,000/mt) over the same period. “Prices are increasing and demand is becoming livelier since construction has been picking up. However, for now in most regions the roads are closed for large cargoes and this exerts some pressure,” a producer told SteelOrbis.
In the export market, as reported earlier, ex-Russia rebar offers are at $620-630/mt FOB, while wire rod levels are at $700-715/mt FOB for the Mediterranean region and North Africa. However, some sources have been reporting demand coming from Latin America, where buyers have reportedly been ready to pay up to $720-740/mt FOB.
Local prices in RUB include 20 percent VAT, while prices in US dollars do not.
$1 = RUB 75.82