Sharp increase in Russian rebar prices in September

On September 18, the Ministry of Industry and Trade discussed with steelmakers the sharp rise in September rebar prices from RUB 60,000/t ($517/t; 12 mm, CPT Moscow, prices include 20% VAT) to RUB 72,000/t ($621/t).

The Russian Ministry of Industry and Trade advised metallurgical companies to investigate the possibility of setting rebar prices differently depending on the end consumer. Businesses may be able to negotiate a lower price if they arrive and claim that they are buying rebar to fill a state or regional order. A higher price may be offered to those who purchase building assortment for commercial projects, depending on the state of the market and any objective factors that have an impact on the profitability of the steel industry.