European domestic long steel prices largely held their ground in the week ended July 30, with mills attempting to lift rebar offers amid seasonal supply tightening, although buyer appetite remained restrained by persistent uncertainty around import dynamics and carbon-related costs.
In Northern Europe, some mills indicated rebar offers as high as Eur630/mt ex-works, but buyers largely pushed back, seeking deals closer to Eur600-610/mt, according to multiple trading sources.
Despite muted activity, market players flagged growing caution around post-summer import competition, particularly if low-priced Turkish and Egyptian material remains sub-Eur500/mt CFR.
“Mills are testing higher prices, but buyers aren’t fully engaging — there’s still too much on the horizon that’s unclear,” one Northwest European trader said, pointing to the looming impact of CBAM and Q3 import arrivals.
In Southern Europe, Italian producers also pushed rebar offers up to Eur530-540/mt ex-works, driven by an approaching wave of August stoppages and a spillover effect from recent flat steel hikes. However, some buyers were hesitant, warning that a rollback in early September could disrupt market confidence heading into Q4.
“Everyone’s watching the first two weeks of September,” one distributor said. “If producers hold firm, there’s a chance prices stabilize. But if they panic and drop again, it’ll spook the market.”
Medium sections hovered at Eur760/mt delivered in both Italy and Benelux, supported primarily by limited availability rather than active procurement interest.
Further east, weak construction activity and softening domestic rebar prices in Romania added a note of caution to the otherwise balanced sentiment. Market players also highlighted growing stockpiles at key European ports and rising chatter around Brazilian pig iron offers, reflecting shifting trade flows as Russian quotas near exhaustion.
Platts assessed Northwest European rebar at Eur610/mt ex-works, stable on the week, and medium sections at Eur762.50/mt delivered, down Eur2.50 on the week.
