Rebar price to slide further in Russia

摘要

Domestic prices for rebar are likely to move down further in Russia. An oversupply keeps growing given lacklustre demand,which is increasingly weighing on the local producers. Moreover, foreign suppliers are toughening the competition.Contact prices for 12 mm rebar in December are believedto lose about 7% month-on month, sinking to RUB 20,500/t($290/t) CPT Moscow, Metal Expert estimates.