There is stability in the Russian long products market

At the beginning of the month, rebar prices were still being adjusted in Moscow. Some companies companies decreased their prices, however, the process is still ongoing. But there are also upward trends. We can say that the rebar market in Russia is stabilized, there is seasonal demand, and the summer is likely to be active and productive.

Prices for June have been reduced, so some prices could be lower than spot prices. A further decline is unlikely to be expected. On the contrary, in July the prices will rise; scrap prices will rise; the ruble has more or less stabilized; export prices will rise.

There are also improvements in the global market. Long products have increased in price in China and in Southeast Asia. They were followed by a rise in prices for steel products in Turkey. But in Russia the market is still very weak, mainly due to the depreciation of the local currency.