European domestic long steel prices were stable in the week to Wednesday August 5 amid subdued trading and seasonal production stoppages.
“With most market participants now heading into the next two weeks of summer holidays, activity is expected to be very limited,” a buyer source told Fastmarkets.
In Italy, tradable levels were heard at €690-760 ($795-875) per tonne ex-works, although no transactions were heard at the upper end of the range.
Deals were heard at €690-730 per tonne ex-works, with workable levels also confirmed within that range. Higher indicative offers and indications of €750-760 per tonne ex-works were also heard, however those levels were not supported by transactional activity.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy was assessed at €690-730 per tonne on Wednesday August 5, unchanged from a week earlier.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain was unchanged at €750 per tonne on the same day.
Meanwhile, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was also unchanged at €710-730 per tonne on August 5.
Wire rod prices mirrored the broader stability seen across the European long steel market during the assessment week.
In Southern Europe, tradable levels for mesh-quality wire rod were heard at €660-680 per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was flat at €660-680 per tonne on August 5.
In Northern Europe, tradable levels for mesh-quality wire rod were heard at €705-715 per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe was unchanged at €705-715 per tonne on the same day.
