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...

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