Ukrainian rebar offers for export

SteelOrbis has been informed that Ukrainian origin rebars are being offered at $470/mt FOB for export to the Middle Eastern and North African markets for late February shipments. Ukrainian prices have indicated an increase of $20 per ton this month as expected. Although some buyers think that they may be able to conclude bookings at prices $5-10/ton lower than this level, rising scrap and billet prices may render these expectations abortive. Moreover, the fact that the Italian market is indicating rising signals after the holiday period may cause Ukrainian producers, mainly Mittal Steel Kriviy Rih, to insist on the $470/mt FOB price level, especially in the Algerian market.