RUSSIA REBAR: Prices stable but lower offers expected on slow sales

The domestic steel rebar market in Russia’s Central Federal District around Moscow was quiet in the week ended Monday September 20 because mills were expected to soon lower their offers and so buyers were holding back from making purchases, sources told Fastmarkets.

Mills were not forthcoming with new price indications for the second consecutive week, with the result that the market was assessed as being stable. But market sources believe that mills will soon be ready to lower offers to stimulate demand and shift volumes.
Furthermore, stockists said they expect mills to retroactively revise prices for already-concluded deals downward in recognition of the downtrend in the market that resulted in stockists having to sell at prices lower than what they originally paid for the material.

Stockists told Fastmarkets that they expect prices to be revised for deals...


Elina Virchenko

September 23, 2021

02:30 GMT