Export offer prices for steel rebar and wire rod from Russia have fallen slightly amid limited sales opportunities, Fastmarkets heard on Tuesday April 20.
Steel reinforcing bar (rebar) export, fob Black Sea, CIS, $/tonne
Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/tonne
In the European market, Russian suppliers have almost completely taken up their permitted import quotas for long steel products for the second quarter of 2021. In rebar, 79.25% of the 58,486 tonnes quota has been used, leaving just 12,131 tonnes available. In wire rod, the entire 79,620 tonnes quota has been taken up.
Demand in the Middle East-North African market was hampered by reduced activity during the Islamic holy month of Ramadan, which will continue until May 12.
Consequently, rebar offers from Russia slid to $628-631 per tonne fob Black Sea this week, against $640 per tonne fob a week earlier.
Wire rod offers dropped to $710-730 per tonne fob, compared with $720-740 per tonne a week earlier.
This was despite the strong secondary market demand in the country.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 56,000-57,000 roubles ($734-748) per tonne, including 20% value-added tax, on April 19, up from 54,000 roubles per tonne last week.
A trading source based in Europe said that the price of $710 per tonne fob for wire rod would be workable, “but since Russia’s quota is taken up, there is nothing to discuss.”
Another trading source said that the price of $710-730 per tonne fob for wire rod could work in West Africa.
Meanwhile, offers of wire rod from Ukraine were reported at a minimum of $740 per tonne fob Black Sea, which was considered too high by most market participants.
Ukraine has taken up just 10.15% of its quarterly wire rod quota in Europe, leaving 84,604 tonnes open for trade.
The country’s rebar quota was 44.42% filled as of April 19, with 16,185 tonnes left to sell before June 30.
Ukraine-origin rebar was available to foreign customers at $650 per tonne fob Black Sea.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS, was $628-650 per tonne fob on April 19, widening downward from $640-650 per tonne fob a week earlier.
And the weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS, was $710-740 per tonne fob on Monday, against $720-750 per tonne fob last week.
این مطلب بدون برچسب می باشد.