CIS LONG STEEL EXPORT: Offers rise on higher scrap, billet costs but demand remains modest

CIS rebar and wire rod producers increased offers for foreign customers in the second half of October following the recovery of scrap and billet prices globally.

But buying activity remained limited as customers waited to see more evidence of market stabilization and improvement of demand from end-users.
Early last week, offers for Russian wire rod were reported at $425 per tonne fob Black Sea, with the producer ready to move several dollars lower if a firm bid was provided.

By the middle of the week, market participants started to report offers from Russia and Ukraine...


Vlada Novokreshchenova

October 22, 2019

15:06 GMT