CIS LONG STEEL: Prices dip amid sluggish demand, few supportive factors

Prices in the Commonwealth of Independent States' (CIS) export long steel market declined in the week to Monday September 28 on low demand in the majority of end-market outlets as well as generally negative sentiment globally, sources said.

In the second half of September, CIS mills tested the market with higher rebar and wire rod offers, referring to the reduced availability of material at some sites due to maintenance works as well as unusually satisfying demand in Russian's domestic market, sources said.
Customers resisted these offers, however, which resulted in a lack of transactions, Fastmarkets heard.
Competitors from Turkey reduced offer prices for rebar and wire rod by $5-10 per tonne the week prior to $460-465 per tonne fob and $515-520 per tonne fob respectively amid a lack of trading activity and falling scrap costs.

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