Domestic prices for steel rebar in Russia’s Central Federal District around Moscow remained firm in the week to June 21 with good demand from construction, sources told Fastmarkets.July rebar offers to traders from local mills ranged from 69,500-71,000 roubles ($954-975) per tonne cpt in the week to June 21, largely unchanged from June offers, sources said.
Tula Steel offered rebar to the secondary market at 75,000-77,000 roubles per tonne cpt, unchanged from the previous week, sources said.
Buyers estimated the workable level at 69,500-73,000 roubles per tonne cpt.
High construction demand – the primary sector for rebar consumption – is seasonally strong, supporting rebar prices, sources said.
Market participants expect domestic Russia rebar price in the region to stabilize in the short term, particularly because some traders have encountered difficulties when opening new credit lines due to the high prices, sources said.
In the secondary market, large traders offered rebar at 79,000-83,000 roubles per tonne delivered, largely stable week on week, sources told Fastmarkets.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 69,500-73,000 roubles per tonne on June 21, including 20% value-added tax, narrowing from 690,500-75,000 per tonne on June 14.
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