Commonwealth of Independent States export rebar and wire rod prices dropped $10-20 per tonne in the week ended Monday December 17 due to a lack of demand and increased pressure from Turkish suppliers.
The volume of the global rebar market has shrunk this year due to the snowball effect from tariffs imposed by the United States. This forced Turkish suppliers to increase their presence in the Middle East, Europe and Asia, creating increased competition for CIS mills. Recent rebar offers from the CIS region were heard within the range of $460-475 per tonne fob...