CIS rebar exporters have been struggling to secure sales for
May rolling due to weak demand from consumers, market
Sales have remained slow this week, prompting CIS exporters to
hold export prices steady to encourage movement.
Small parcels of rebar have been sold this week at $645-660 per
tonne fob Black Sea for May rolling and shipment, compared with
$645-655 last week.
"CIS rebar has been sold this week to West Africa and the
Middle East. I haven't heard of any sales to North Africa," a
"Ferrous scrap prices are stable so there is not much
propensity for prices to dip. Mills cannot lower prices as
they'd be selling below costs. Prices are hovering at the same
level," he added.
Demand for CIS rebar remains weak and market participants are
not expecting an improvement in demand this week, Metal
Bulletin was told.
"I've been out of the market for a few days and I'm not
expecting a pick-up in demand this week. Demand for CIS rebar
has been weak for several weeks," a second trader said.
"My customers are enquiring about prices, but they're not
buying anything," he added.