FOCUS: Gap between CIS export rebar, HRC prices highest since 2008 amid global flat steel shortage

The gap between the prices of rebar and hot-rolled coil exported from the Commonwealth of Independent States reached the highest since 2008 in the second half of April due to a combination of a flat steel products shortage in the global market and strong demand.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $639 per tonne fob at the midpoint of the range on Monday April 19, down by $6 per tonne week on week.
Meanwhile, Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS was $970 per tonne at the midpoint on the same day, up by $65 per tonne week on week.
This took the gap between prices for these two products to $331 per tonne, the highest since September 2008, when the HRC price exceeded rebar by $550 per tonne.
Following the latest assessment on Monday, the range has widened further to $340 per tonne after the rebar price rose slightly to $650 per tonne and the HRC price jumped $20 to $990 per tonne.

"There are reasons why the HRC price is high now. There is demand and it...

Bank of Japan boosts rates, continuing an unwinding carry trade

Gold stocks outperform equity market slide

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue