Kazakhstan: tenge devaluation to push domestic rebar prices up

摘要

In March, Russian mills cut rebar prices to Kazakh companies by 2-3%, but import products became uncompetitive because of sharp tenge devaluation. However, trading companies were able to pay for some volumes before the currency market collapse, preventing domestic mills from capitalizing on less competitive imports. As a result, prices for ArcelorMittal Temirtau's rebar remained unchanged month-on-month. Traders also managed to pay EVRAZ Caspian Steel for some volumes from at February prices.