Rebar prices in Russia's major steel-consuming region - the Central Federal District around Moscow - continued to fall over the past week due to a combination of high availability and the seasonal slowdown.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 36,000-37,000 rubles ($547-562) per tonne on Monday September 9, down from 37,000-38,000 rubles per tonne a week before."Nominally, Severstal's rebar price remains 38,000 [rubles per tonne cpt Moscow], but in fact no one will close the month at this level if Novolipetsk Steel (NLMK) offers [rebar at] 1,000 rubles per tonne lower,"...