European domestic long steel prices remained stable in the week to July 16, with mills and buyers alike retreating into holiday mode, limiting liquidity and weakening any momentum toward price changes.
In Northwest Europe, rebar was heard trading at Eur600-630/mt delivered, with workable ex-works levels in Benelux cited at Eur610/mt. Market activity remained limited, with buyers showing little urgency to commit ahead of August maintenance stoppages.
“There is no real market right now — everyone’s either away or waiting,” a trader said. “The mood is muted, and we’re just rolling through the motions until September.”
In Southern Europe, the picture was slightly more dynamic, although far from robust. Sources in Italy said mills were testing higher rebar prices — Eur530-545/mt ex-works — as they moved to clear stock before summer closures. However, many were still shipping older orders priced closer to Eur510-520/mt.
“Private construction is at a standstill. Producers are trying to lift prices, but nobody’s biting yet,” a distributor said.
Market participants also flagged pressure from lower scrap prices, weak private construction demand and lingering overstock in parts of Central and Eastern Europe. Competition from imports out of Algeria and Egypt continued to weigh on sentiment.
Steel associations voiced concerns over broader trade policy risks. A distributor source said the proposed 50% US tariffs on some steel exports could jeopardize EU access to one of its last major export markets, adding urgency to ongoing EU-US negotiations.
Platts assessed Northwest European rebar at Eur610/mt ex-works and medium sections at Eur765/mt delivered Benelux, both stable week over week.
Platts assessed both carbon-accounted rebar and carbon-accounted medium sections at Eur30/mt each, both stable week over week.
