European domestic long steel prices remained largely stable in the week to July 9, as subdued demand and the start of the summer holiday season continued to limit market activity and weigh on sentiment.
Rebar prices in Northwest Europe held within a narrow range, with tradable values reported at Eur600-615/mt delivered in Benelux, and Eur615-630/mt delivered in Germany, depending on volumes.
“The holiday season has started, and there’s no real demand at the moment,” a distributor said. “Mills are hoping to get some orders, but most are preparing for maintenance over the next four to five weeks.”
In Southern Europe, rebar offers remained limited, with market participants focused on September delivery and few expecting significant activity until the second half of August.
Across the merchant bar and medium sections, prices showed little change, despite expectations from some mills to raise offers post-holiday.
“Some mills like Arcelor have hinted at a price increase for beams after the holidays,” a service center source said. “But we’ve seen this strategy before — take in orders first, and then hold prices steady.”
Carbon-accounted steel premiums were heard offered in the Eur20-40/mt range, though sources stressed that real demand for green-certified long products remains thin.
Platts assessed Northwest European rebar at Eur610/mt ex-works, down Eur10 on the week. Platts assessed medium sections at Eur775/mt delivered, up Eur5 on the week.
Platts assessed both carbon-accounted rebar and carbon-accounted medium sections at Eur30/mt, stable on the week.
