Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS
was $639 per tonne fob at the midpoint of the range on Monday April 19, down by $6 per tonne week on week.
Meanwhile, Fastmarkets’ weekly price assessment for steel HRC, export, fob Black Sea, CIS
was $970 per tonne at the midpoint on the same day, up by $65 per tonne week on week.
This took the gap between prices for these two products to $331 per tonne, the highest since September 2008, when the HRC price exceeded rebar by $550 per tonne.
Following the latest assessment on Monday, the range has widened further to $340 per tonne after the rebar price rose slightly to $650 per tonne and the HRC price jumped $20 to $990 per tonne.
“There are reasons why the HRC price is high now. There is demand and it...