CIS longs prices rise on costlier scrap

摘要

CIS longs prices significantly rose over the week on surging scrap in Turkey. Suppliers are targeting further price increase in the near future. However, the upturn is yet to be widely anchored in deals, since buyers have doubts regarding the longevity of the current positive dynamics. The latest offers of wire rod from a leading Russian producer were coming at $710/t FOB Black Sea for late March shipment, up $30/t over two weeks. Rebar was offered at $640/t FOB Black Sea for late March shipment versus $600/t FOB in mid-February. However, no deals at the new levels have been reported so far.