CIS long products prices are on decline

The past week has witnessed a noticeable downturn in long-standing markets in various regions, primarily influenced by the arrival of Ramadan, which significantly restricts business activities in the Islamic world. Despite expectations of a recovery, the pace of demand recovery has been slow in both the EU and the CIS. This stagnation has hampered producers' plans to increase their price offers in the spring, a situation exacerbated by persistently high production costs. As a result, some companies were forced to consider suspending production, given the difficulty of preventing further price declines.

In Belarus, Byelorussian Steel Works rebar prices were stable at €545 CFR Antwerp and slightly lower at $580-590 CFR MENA. On the other hand, wire rod prices decreased to €555 CFR Antwerp and $600 CFR Egypt, respectively.

There were similar market pressures at ArcelorMittal Kryvyi Rih. Rebar prices were in the range of $575-585 FOB Odessa. Wire rod prices hovered around $600-605 FOB Odessa, €600 DAP Romania and €610 DAP Poland, reflecting a $5 or $10 drop in prices.

Novostal-M reported that rebar prices have been relatively stable at $580-585 CFR Türkiye, in line with a slight decrease in wire rod prices, which are now at $595 CFR Türkiye.