RUSSIA REBAR: Mills withdraw offers for January on expectations of further price rises

Domestic rebar producers in Russia's Central Federal District around Moscow have withdrawn their offers for January supply in anticipation for returning at higher prices, several sources told Fastmarkets on Monday December 21.

Last week, domestic rebar prices in the region increased sharply with Russian producers citing strong exports as the key driver for the rise.
As a result, all major producers have reportedly withdrawn from the market this week to reconsider their offers.
"Exports prices for billet and rebar at exports are surging on a daily basis," one mill source said.

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