CIS long steel prices increased over the week to Monday April 26 after customers accepted higher levels in recent sales, sources said.
A strong domestic market in Russia rendered support to local producers, which, therefore, increased their asking prices for long steel products abroad, Fastmarkets heard.
In the middle of last week, one Russia-based producer was offering wire rod for production in May-June at $720 fob Black Sea, while Russian producers increased their offers to $730 per tonne fob early this week, Fastmarkets learned.
The producer increased its asking price amid lively interest from customers in the Middle East, Latin America as well as Africa.
One cargo from the producer was heard sold to a Middle East country at $720 per tonne fob in the second half of April.
*** CIS long steel , Russia
One customer from Europe said the price of $720 per tonne fob was attractive but the quota for Russia-origin material for the second quarter of 2021 has already been allocated.
There were offers for Ukraine-origin wire rod scheduled for production in June due to arrive to Europe at $750 per tonne fob, however, market participants considered these offers to be too high.
A small cargo of Ukraine-origin wire rod was heard sold to Europe at $740 per tonne fob in the second half of April.
Another Russian producer was also looking for $750 per tonne fob for its wire rod on support from strong demand in the domestic market, although no bookings were heard at the sought level.
Material of Belarus-origin and scheduled for production in July-August was available to foreign customers at $710-725 per tonne fob Black Sea on 100% per-payment terms, depending on the tonnage, sources said.
The price was excluded from Fastmarkets’ assessment, however, due to alternative payment conditions and delivery terms than those stated in the company methodology.
*** steel wire rod
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS narrowed up by $10 per tonne reaching $720-740 per tonne fob on Monday April 26.
In the rebar segment, Russian suppliers increased their offers to foreign customers significantly amid the strong domestic market.
One Russian producer offered material at $670 per tonne fob in the middle of last week and increased its asking price to $680 per tonne fob Black Sea on Monday from $630 per tonne last week.
Fastmarkets’ price assessment of steel reinforcing bar (rebar), domestic, cpt Moscow, Russia rose to 60,000 roubles ($800.94) per tonne including 20% value-added tax on Monday from 56,000-57,000 roubles per tonne last week.
Customers that spoke to Fastmarkets said that the price was too high, considering that Turkish material was available at $650 per tonne fob.
No fresh offers for Ukraine-origin rebar were heard in the market with sources reporting one major supplier being well sold out for June rolling and its recent offers heard at $650 per tonne fob.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $650 per tonne fob on April 26, narrowing upward from $628-650 per tonne fob a week earlier.
Material from Belarus was available to foreign customers at $630-640 per tonne fob Black Sea, considering 100% pre-payment, sources said.
The price was excluded from Fastmarkets’ assessment, however, due to alternative payment conditions and delivery terms different to those stated in the company methodology.
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