It is reported that the prices of CIS origin rebar increased USD 50 per tonne from that of last week, largely due to the higher scrap price and the gradually warming up demand from North Africa as well S. Europe. Insiders disclosed that many construction projects are now becoming active.
As per report, many traders have turned their attentions to overseas market and therefore hiked the export offers. The current export offers post at USD 380 per tonne to USD 410 per tonne, FOB Black Sea. At the meanwhile, the price in Turkey-origin rebar also increased the resources to Egypt posts at USD 475 to USD 490, FOB while that to Dubai goes at USD 460 per tonne to USD 470 per tonne, FOB.
However, market participants are still not sure how long the price would last and when the market would truly return.