EU long steel market remains mostly steady even as mills announce price increase

The Northwest European market for rebar and medium sections remained mostly steady in the week ended July 10 even as some mills raised offers . Some sources said that demand has improved and is expected to be better in the summer.

“Demand has improved,” another distributor source said. “Some companies will continue in summer and demand is expected to be better this summer. Mills have announced an increase of 10 euros for beams and merchant bars.”

Whether the higher offers will be accepted by buyers remains to be seen, sources said.

“Market is quiet due to summer holidays,” another distributor source said. “There is not much action, and no buying at the moment.”

Platts assessed the price of Northwest European rebar stable on the week at Eur615/mt ex-works.

Tradable values were heard at Eur615/mt ex-works Benelux.

Meanwhile, Platts assessed the price of European medium sections stable on the week at Eur750/mt delivered Benelux.

Workable levels were reported at Eur740-770/mt delivered Benelux.

Devbrat Saha


spglobal.com