Russian steelmakers cut rebar domestic prices for April on sluggish market
It’s reported that the Russian steelmakers including Novolipetsk Steel and Severstal have cut the rebar domestic prices for April, affected by fierce price competiveness and sluggish demand from construction sectors.
It’s known that Evraz, the largest steelmaker in Russia offered the rebar in diameter of 12mm for April with ex-factory prices of RUB18, 240/ton.
In fact, Novolipetsk Steel remained the April rebar quotes unchanged from March; however, the company had cut the prices by 1% to RUB19, 842/ton for March in order to compete against Evraz, which cut the March prices by 1% to RUB18, 240/ton as well.
Meanwhile, Severstal announced to decrease the April ex-factory prices of rebar in dimension of 12mm by 1% to RUB21, 090/ton from RUB21, 300/ton in a month earlier.