The European domestic long steel market remained broadly stable in the week to May 28, with market participants reporting subdued activity amid weak demand and lingering concerns over import quotas and regulatory changes.
Rebar tradable values were reported at Eur650-660/mt delivered Germany and around Eur625-630/mt delivered Belgium. One trader said the workable levels remained largely unchanged from last week, with ex-works rebar prices in the region at around Eur610/mt in Benelux.
Market sentiment remained soft across the longs segment, with one mill source suggesting that while mills are hoping to raise prices on the back of expected scrap increases — potentially by Eur20/mt — current demand levels do not support any near-term uptick. “The market is very quiet — hopefully June will be better,” the source added.
Despite some anecdotal indications that Southern Europe was seeing slightly better activity, most market participants described overall European demand as weak, especially heading into the early summer period. Import volumes remained low across long products, largely due to stricter quota allocations, according to sources.
Platts assessed rebar at Eur625/mt ex-works Benelux, stable week over week. Platts assessed medium sections at Eur780/mt delivered Benelux, down Eur5/mt week over week.
