RUSSIA REBAR: Domestic price dropping due to oversupply and export duty

August 25, 2021 / www.metalbulletin.com / Article Link

Domestic prices for steel rebar in Russia's Central Federal District widened downward by 3,500 roubles ($47) per tonne in the week to Monday August 23.

Oversupply and an export duty were the main reasons for another round of price decline that began on July 19. The recent downward trend has been in line with market expectations, however, with market participants describing it as predictable and controlled.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 62,500-66,000 roubles ($843-890) per tonne on Monday, including 20% VAT, widening downward from 66,000 roubles per tonne a week earlier. The upper end of the...

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