The export market for CIS long steel products was quiet during the week to Monday January 4 because of seasonal holidays, but with sentiment remaining upbeat, sources have told Fastmarkets.
Most CIS steelmakers were out of the market for New Year and Christmas breaks, sources said.
There will be public holidays in Russia from January 1 to January 11. And in Ukraine, December 25, December 31, January 1 and January 7 are official holidays.
*** CIS long steel , rebar
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS, was $650-670 per tonne on Monday, the same as a week earlier.
Offers of Russia-origin rebar were reported at $670-740 per tonne fob, depending on the supplier. The upper end of the offer range was not included in the price assessment because no sales were heard at that level.
One Russian electric-arc furnace-based steelmaker was said to be sold out of February-shipment rebar and was expected to announce new prices after the holidays.
But mills were cautious about making offers, in light of the threat of Russia imposing an export duty on rebar.
The most recent offers from Ukraine were said to have been at $650 per tonne fob.
*** CIS long steel , wire rode
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS, was $720-730 per tonne on Monday, also the same as a week earlier.
The latest deals for Russia-origin wire rod were heard at $720-730 per tonne fob early last week.
One Russian producer was said to be targeting even higher prices of $770 per tonne fob. This was not included in the assessment, however, because it was considered “not workable” by buyers at the moment.
But market sources believed that buyers could accept that price after the holidays.
“In Europe, for example,” one trader said, “the supply of wire rod is short and I think buyers would pay that price.”
Reference: metal bulletin
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