RUSSIA REBAR: Oversupply pushes prices further down amid poor export demand

The domestic steel rebar market in Russia’s Central Federal District around Moscow continued to suffer from oversupply in the week to Monday September 13, sources have told Fastmarkets, with export sales limited by the $115 per tonne temporary export duty.

The price decline in the country’s largest rebar-consuming region started in the second half of July and has been mainly driven by mills that sell rebar via their own trading houses, distributors told Fastmarkets.
Certain mills’ trading houses were under pressure because they had large volumes of unsold material and were forced to decrease their prices to generate sales.

“Warehouse traders have to follow the prices that mills’ trading houses offer...

Published

Elina Virchenko

September 14, 2021

17:48 GMT

Dubai