A tale of two markets in Russia's longs

摘要

As June gave way to July, Russian exporters of A3-grade rebar were feeling the pressure of low-priced Chinese offers. A handful of transactions with Lebanese traders indicated Russian A3 was being sold at between $520/t and $525/t FOB (?380-384/t). One source told CRU Steel News that rebar was at $533/t FOB in the third week of June, and heading downwards to find buyers. The latest offers put shipments of Russian material for August delivery at $500/t to $510/t FOB.