Ukraine raises CIS long steel offers amid unused quota in Europe, Russian market quiet due to lockdown

Prices in the Commonwealth of Independent States' export long steel market continued to grow in the week to Monday November 1, mainly due to higher offers from Ukraine because the country still has most of its quota allocation available for the fourth quarter in Europe.

Meanwhile, Russian suppliers have almost fulfilled up their rebar quota and their wire rod quota has been completely exhausted.  The country also announced a new lockdown last week, which will last until November 7, so no fresh offers of Russian material were heard in the market on Monday.
Competitive Turkish suppliers have also almost taken up their quotas for rebar and wire rod in Europe for October-December period.
Domestic rebar prices in most parts of Europe rose last week amid strong restocking activity.

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Vlada Novokreshchenova

November 01, 2021

17:22 GMT