Russian domestic rebar prices soften again on increased supply, export duty rumors

Domestic demand for steel rebar was still strong in Russia’s Central Federal District around Moscow during the seven days to Monday November 22, but continued to correct downward on increased supply and rumors of a possible extension of the country’s export duty.

Fastmarkets’ assessment of the price for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 71,500-73,000 roubles ($963-983) per tonne on Monday, including 20% value-added tax. This was down by 1,500-2,000 roubles per tonne from 73,000-75,000 roubles per tonne a week earlier.

During late October-early November, demand exceeded supply and the resulting price increase led to additional speculative demand, with buyers looking to secure material at the lowest price. This resulted in a sharp jump in...

Published

Elina Virchenko

November 23, 2021

13:15 GMT

Dubai