Ruble devaluation offsets increase of Russian domestic rebar prices, pressures stable flat steel prices

Russian domestic steel rebar prices in rubles increased during the week to Monday July 3 amid good demand, but equivalent prices in dollars fell due to the devaluation of the Russian currency. In the flat steel market, where prices moved mostly sideways during the period, the decline of prices in dollars was even sharper.

Fastmarkets’ latest price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 54,000-55,000 rubles per tonne on Monday, up by 3.32% — or 1,500-2,000 rubles...


Marina Shulga

July 04, 2023

15:29 GMT

Dnipro, Ukraine