CIS LONG STEEL EXPORTS: Prices move up on high costs

Export prices for rebar and wire rod originating from the Commonwealth of Independent States increased during the week to Monday October 18 on bullish offers from mills amid increased rolling costs, Fastmarkets heard.

A steady uptrend in the international scrap market since last week, as well as increasing costs of production due to surging electricity and gas prices, pushed offers for CIS-origin long steel higher.
Notably, a Russian supplier was heard targeting $790-800 per tonne fob for rebar on Monday, sharply up from a previous offer of $720-725 per tonne fob in early October.

But sources considered that price to be unworkable, especially given the lower offers available from Turkish and...

Published

Julia Bolotova

October 18, 2021

15:58 GMT

Dnipro