Prices in the CIS export market for rebar and wire rod slipped in the week to Monday March 2 on a lack of trading activity or supportive market factors. Price assessment for steel reinforcing bar (rebar) , export, fob Black Sea, CIS, was $420-425 per tonne on March2, narrowing downward by $20 per tonne week on week.
Offers of Ukraine-origin rebar were reported within the range of $420-425 per tonne fob Black Sea, against $445-450 per tonne a week earlier. But a source on the producers' side said:"There are almost no deals."
Several bookings of Ukraine-origin rebar were heard to East Africa and the Middle East within the range of $420-425 per tonne fob Black Sea in the second half of February. Buying activity in the major sales outlets was reduced due to increased political tensions in the Middle East, particularly in Turkey, Iraq and Lebanon, as well as the uncertainty caused by the spread of the 2019 nCoV-coronavirus in China and beyond.
Belarus-origin rebar was available at $420-423 per tonne fob Black Sea. One source said that Belarus Steel Works (BMZ) was looking for as much as $440 per tonne fob Black Sea last week.