Domestic price to surge

摘要

In January, rebar offered by domestic plants has grown in price by 3-6%favoured by a rise in export quotations and strong domestic market.An upturn in export markets is a key factor to stimulate domestic price growth.In January, export prices for square billet have rallied to $650-660/t atBlack Sea ports, up $50-70/t m-o-m. Overseas consumers are very active, tryingto replenish their stocks. In late Q1, the recovery of the construction sector in theMiddle East and the Far East will spur billet and finished product price growth.In March-April, FOB-prices are to add another $10-25/t to let Russian producersraise their offers.