Excess supplies of rebar in Russia's Central Federal District around Moscow led to a decline in prices in the week to Monday September 6, after domestic producers that usually trade elsewhere redirected supplies to the country's key steel-consuming region.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 58,000-62,000 roubles ($795-850) per tonne on September 6, including 20% VAT, down by 500-3,000 roubles per tonne from 61,000-62,500 roubles per tonne a week earlier.A number of traders reported a variety of offers from the mills that rarely sell material in the Central Federal District, including Kamskiy Metallurgical Plant Tempo, the Balakovo mini-mill and Belarus Steel Works (BMZ), with offers at 58,000-59,500 roubles per tonne."BMZ has used up almost 80% of its European quota and that's the main reason we are seeing it here [in the Central Federal District]," a trader told Fastmarkets.And rebar from Tula Steel, one of the usual key suppliers to the region, was on offer at 58,000 roubles per...