Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) region continued to decrease in the week to Monday September 6, pressured by competition with Turkish mills, sources told Fastmarkets.
Offers of Turkey-origin rebar for foreign customers have slid $10-20 per tonne over the past two weeks, to $670-675 per tonne fob Black Sea.
Wire rod was available at $770-790 per tonne fob Turkey last week, down by $20-30 per tonne since late August.
CIS mills revised their asking prices for rebar and wire rod downward.
Official rebar offers from CIS major long steel exporter ArcelorMittal Kryvyi Rih (AMKR) were reported within the range of $710-720 per tonne fob Black Sea, down by $10-20 per tonne since late August.
A mill source said that there were some bookings done within the mentioned range.
One trading source, meanwhile, said that AMKR is selling small cargoes up to 7,000 tonnes at around $710 per tonne fob Black Sea and is ready to provide some discounts for bigger tonnages such as 10,000-15,000 tonnes.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS widened down by $10 per tonne over the week, to $705-720 per tonne on September 6.
Wire rod segment prices also fell, pressured by competition with Turkish mills.
Russia’s Abinsk Electric Steel Mill has reduced wire rod offers to foreign customers by $10-20 per tonne since late September, to $780-790 per tonne fob, sources said.
Another Russian producer, Tula Steel, offered its material at $790-800 per tonne fob.
Official wire rod offers from Ukraine’s AMKR were heard at $820-830 per tonne fob Black Sea.
A trader source said that $790-800 per tonne fob could be achieved in negotiations with the mill.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS widened downward by $20 per tonne on September 6, to $780-830 per tonne fob.
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