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Russian domestic rebar price unchanged but rises expected

April 16, 2014 - 14:40 GMT Location: Moscow

KEYWORDS: rebar prices , Russia , Evraz , Novolipetsk Steel , NLMK , Mechel

Russian domestic rebar prices remained unchanged last week as April production had sold out and May output had not yet been offered.

Further price rises were expected as demand was good because of the beginning of the construction season. However, producers will exercise caution when seeking price rises so as not to attract imports. Steel First’s price assessment for A500 12mm rebar stood at 23,000-23,100 roubles ($637-640) per tonne cpt Moscow, including VAT, on partial prepayment terms, on Monday April 14. The price assessment has been at this level for the past four weeks, the same level as at the end of September. At that time, it started to fall as the market became flooded with domestic oversupply and imports. The price assessment reached...

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