Deputy head of the Ministry of Industry and Trade Yevtukhov: speculators are to blame for the sharp rise in prices for rebar 
the policy of traders. The position of the ministry was announced by the state secretary, deputy head of the ministry Viktor Yevtukhov, RIA Novosti reports.
The price of 12 millimeter reinforcement bars has increased by 39 percent since October 1, to 79.25 thousand rubles per ton including VAT. The official explained that traders buy volumes, pledge their margins and sell goods at inflated prices, and when prices drop, they suspend purchases in anticipation of further price reductions.
“Along the chain, metallurgists are reducing production volumes. Further, through the deferred demand, we get an artificial deficit and another surge in prices. Obviously, this link in the market needs to be reduced by switching to long-term direct contracts as much as possible, “Yevtukhov said.
A sharp rise in metal prices in Russia began at the end of 2020. At the end of May, First Deputy Prime Minister Andrei Belousov accused the metallurgical companies of “squeezing” the state by 100 billion rubles due to a jump in prices on the domestic market. The government introduced export duties on the export of raw materials from August 1 to December 31, 2021 to compensate for budget losses.
In September, it became known that metallurgical companies had decided to tax them. According to the bill, an excise tax will be imposed on steel in the amount of three percent of the export price of slabs (steel billets) in Russian ports if it is more than $ 300 per ton. Pipe manufacturers may be subject to the new tax. The document also provides for an increase in the mineral extraction tax (MET) and income tax.