Falling raw materials prices, including scrap, along with lower international long steel prices led Russian suppliers to revise down their latest offers.
The most recent offers for wire rod from Russia were $615–620 per tonne FOB Black Sea, which is less than the $630–635 per tonne FOB from a week ago. Depending on the tonnage, additional discounts ranging from $5 to $15 were offered.
From $600-630 per tonne on April 24, the weekly price assessment for exports of steel wire rod, FOB Black Sea, narrowed to $600-615 per tonne on May 2.
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