CIS LONG STEEL: Wire rod price surge supported by rising domestic and competitor costs

Wire rod export prices from the Commonwealth of Independent States (CIS) region surged over the past week, supported by rising costs in the domestic and in competitor markets, Fastmarket learned.

Russia-based Industrial Metallurgical Holding (IMH) increased wire rod offers to $740-750 per tonne fob Black Sea from $680-685 per tonne a week earlier amid higher costs in the domestic market.
"Higher export offers are connected with increased domestic rebar prices," a producer source said.
Rebar offers in Russia's domestic market surged to 54,000-57,000 roubles ($706.78-746.01) per tonne from 53,000-54,000 roubles a week earlier.

Russian producer Abinsk Electric Steel Works (AESW) was offering wire rod at $715 per tonne fob Black Sea, up from its...

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