Despite a 2% dip in domestic steel consumption during 2024 Q1 and reduced exports, the focus remains on driving higher rebar prices to sustain growth and stability.
The Russian steel industry has encountered a mixed bag of challenges and opportunities in recent times. While domestic steel consumption experienced a slight downturn, the demand for rebar—the backbone of construction—remains resilient. This resilience underscores the strategic shift towards prioritizing the local market.
With a keen eye on boosting local sales, mills are driving for higher rebar prices despite the backdrop of reduced exports. The decision to prioritize the domestic market is a testament to the industry's commitment to weathering construction sector woes and bolstering national resilience.
Novostal-M offers rebars at $600 CFR Türkiye; $580 FOB Novorossiysk for June shipment.
On the domestic market, A1 rebar costs around 55534 rubles ($594).
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