Since the end of the first quarter, there has been an upward trend, with the price of one ton of rebar increasing from 15 to 17%, depending on the diameters.
While the price of 1 ton of rebar was 42100 ruble ($546) at the beginning of January 2023, it is 51600 ruble ($669) as of March 24, 2023.
Many factors affect further pricing, including export restrictions. In essence, an embargo on supplies abroad; Exchange Rates; Western sanctions; a decrease in production by metal producers, and, as a result, the creation of an artificial shortage.
The Federal Antimonopoly Service has already begun to analyze the reasons for the increase in the cost of rebar. In May the average growth rate of prices for rebar will be 15%. And in the second quarter, prices will rise by another 10%.
Average annual prices for scrap metal in Russia fluctuate almost in the same rhythm as rebar. But the cost of iron ore on the world market, which is also a benchmark for Russian companies, rose in 2018-2023, on average, 1.5 times faster than the price of hot-rolled steel in Russia.
(Prices include 20% VAT.)
Comments
No comment yet.