Rebar and wire rod export prices from the Commonwealth of Independent States surged in the week to Monday May 17, supported by rising raw material costs, higher export prices in China, and increasing domestic prices in Russia.
Rebar ***
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $810-830 per tonne on Monday, up $110-130 from $680-720 per tonne fob a week earlier.
Rebar offers from Russian mills were heard at $810 per tonne fob Black Sea on Monday.
Offers from Ukraine jumped to $830 per tonne fob Black Sea, compared with $740-745 per tonne fob last week.
A source on the producer side from Ukraine attributed the hike to increasing raw materials costs.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $502.25 per tonne on Monday up by $12.87 per tonne week on week.
Firm demand and rising prices in Russia’s domestic market are other supportive factors for export offers.
Fastmarkets’ price assessment of steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was at 66,000-68,000 roubles ($891,50-918,52) per tonne including 20% value-added tax on Monday, up from 65,000-66,000 roubles per tonne in the previous week.
Wire rod ***
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS was at $895-900 per tonne fob on Monday, up from $760-810 per tonne fob a week earlier.
A Ukraine-based supplier offered material at $895-900 per tonne fob early this week, up from $780-800 per tonne fob a week earlier.
Suppliers from Russia offered material at $900 per tonne fob, Fastmarkets heard. This compares with $810-850 per tonne fob sought by the mills last week.
Market participants said strong domestic prices in Russia and the recent surge in export prices in China were among the supportive factors that allowed mills to increase asking prices to foreign customers.
Steel wire rod (mesh quality) export, fob China main port was last assessed at $980-1000 per tonne on May 11, up by $110-125 week on week.
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