European domestic rebar prices remained stable in the week to Wednesday July 8, amid unseasonably weak demand. Market participants reported bearish sentiment, limited trading activity and a prevailing wait-and-see approach.
“Customers believe prices could move lower, so no one is buying large volumes,” a trader told Fastmarkets.
In Italy, tradable rebar prices were reported at €710-770 ($811-880) per tonne ex-works, depending on the region, though no significant tonnages were heard at the upper end of the range.
In northern Italy, tradable levels were reported at €710-730 per tonne ex-works, while in southern Italy tradable prices were reported at €750-770 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Italy was €710-750 per tonne on Wednesday, unchanged week on week.
Fastmarkets’ assessment for steel reinforcing bar (rebar), domestic, delivered Spain remained at €750 per tonne.
Meanwhile, domestic rebar prices in Germany were also steady, with tradable levels reported at €710-730 per tonne delivered and little variation across the market.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €710-730 per tonne in the week to Wednesday, unchanged from the previous week.
Wire rod prices followed the broader European long steel trend of weak demand and subdued trading activity.
In Northern Europe, tradable prices were reported at €705-715 per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, Northern Europe was €705-715 per tonne delivered on Wednesday, narrowing downward from €705-720 per tonne a week earlier.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was €690-720 per tonne on Wednesday, unchanged week on week.
