CIS LONG STEEL: Prices rise amid favorable market conditions

Rebar and wire rod export prices from the Commonwealth of Independent States increased significantly over the past week, supported by favorable market conditions due to strong domestic demand in Russia, higher prices from competitors - particularly Turkey - and increased global scrap costs.

Rebar
Ukraine-origin rebar was available to foreign customers at $690 per tonne fob Black Sea at the end of last week, rising from $680 per tonne fob early last week. The price surged from $650 per tonne fob heard in late April-early May.
"We increased offers following the rise in Turkish export prices," a mill source told Fastmarkets.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey was $695-700 per tonne on May 6, up from the $645-650...

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