Russian rebar prices keep rising on low stocks, limited supply

Domestic steel rebar prices in Russia's Central Federal District around Moscow continued to rise during the week to Monday November 1 on depleted stocks and limited supply from the mills.

Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 75,000-77,000 roubles ($1,053-1,081) per tonne cpt on Monday, including 20% value-added tax. This was up by 2,000-13,000 roubles per tonne from 62,000-75,000 roubles per tonne a week earlier.
Prices have now exceeded those heard before the government decided on June 25 to impose a temporary export duty. The duty was imposed in order to bring down prices, with the market seen by the government as overheated.

Traders thought there would be no effects on supply or prices arising from a lockdown from October 30 until November 7, which falls on a holiday in Russia. This was an exception from...

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