Severstal and Novolipetsk Steel (NLMK), two of the largest rebar suppliers to Russia's Central region, cannot increase their rebar prices despite this being the peak of the construction season, sources told Metal Bulletin on Wednesday June 13.
The reasons they give are the unexpected weakness in the secondary market and the lower offers heard from "alternative suppliers.""[Traders] are now selling rebar [at prices] cheaper than mills' offers, because we have rebar in stock, booked earlier at lower prices, and we can get...