Rebar prices in Russia’s major steel-consuming region, the Central Federal District, went down over the week ended Tuesday August 27 because of high supply volumes combined with falling demand.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 37,000-38,000 roubles ($557-572) per tonne on Tuesday, down from 39,000 roubles per tonne a week before.
“There is more supply in the local market now since Tula Steel came to the market in July,” a trader said. “Moreover, rebar is…