Domestic Russia rebar prices edged up again on good end-user demand and tight supplies in April due to planned stoppages at key producers, sources told Fastmarkets on Tuesday April 6.
*** Price assessment for rebar
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 54,000 roubles ($707) per tonne, including 20% value-added tax, on April 6, narrowing upward from 53,000-54,000 roubles per tonne on March 29.
Construction activity in Russia typically slows in late autumn and early winter due to worsening weather conditions, before starting to recover again in late March.
Planned maintenance at Novolipetsk Steel’s (NLMK) Kaluga operations, a major supplier to the Central Federal District, was putting pressure on supplies, sources said.
“Kaluga will stop for two weeks or so in April and its volumes will be missed,” one trader said.
Rebar offers from NLMK for April volumes were heard at 54,000 roubles per tonne, up from the 50,000 roubles per tonne offer for March volumes. Rebar offers from Severstal, were heard around the same price levels.
In the secondary market, rebar was heard offered by large traders at 61,500-63,000 rouble per tonne delivered, up from 58,000-59,000 roubles per tonne last week, sources told Fastmarkets.
*** Tula Steel
At the same time, Tula Steel, another major supplier increased it’s offer to the secondary market to around 57,000 roubles per tonne cpt, up from 53,000 roubles per tonne the week prior, sources added..
Market participants also said that there were still no rebar offers to traders from Tula Steel after the company reportedly having stopped offering rebar to traders in November 2020 to focus on selling rebar directly to end users through its own trading division.
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