CIS rebar exporters have held prices steady for the third consecutive week to encourage sales to consumers in the Middle East and North Africa (Mena) region.
Rebar has been changing hands this week at $655-665 per tonne fob Black Sea, unchanged since the beginning of April.
Sales have been concluded to Lebanon, Iraq and Syria for May production and shipment, according to CIS market participants.
“BMZ had a tender for 40,000 tonnes and they sold most of it at $660 fob. Prices for rebar are picking up slowly,” a trader told Metal Bulletin.
Demand for CIS rebar remains steady and consumers have been purchasing small parcels to meet their immediate requirements.
“Rebar has been sold at $655-660 fob and the main market continues to be the Mena region for May production,” a second trader said.