KIEV, May 19 – The sharp increase in the prices of iron bars and long steel on the regional markets continued in April: the prices grew by $80-130 per ton depending on the region compared to March.

State-run enterprise Ukrpromzovnishekspertyza said in a press release that the situation was driven by the speculative mood on China's futures market.

Since early May the situation in China radically changed and the prices tumbled after the Chinese government declared restrictions in stimulating the economic development and toughening of the monetary policy. In the first two weeks of May domestic prices of bars fell by $78, to $307 per ton EXW, the prices of rebar and wire rod decreased by $84-86 to $377-388 per ton EXW.