European domestic long steel prices remained largely stable in the week to Wednesday August 27, although Italian domestic rebar prices adjusted upward as market participants gradually returned from summer holidays and mills resumed production across the region.
“Clients are starting to come back, check stocks, talk about new orders,” a seller source told Fastmarkets.
Market participants described the market as largely subdued, with demand remaining limited across the region and only a small number of transactions heard during the assessment week.
“Market only reopened this week and so far it feels a bit quieter and slower than usual,” a buyer source told Fastmarkets.
In Italy, tradable levels for rebar were heard at €690-760 ($805-887) per tonne ex-works. Deals were heard at €690-750 per tonne ex-works, with smaller tonnages traded at the upper end of the range, at €730 per tonne in northern Italy and €750 per tonne in southern Italy.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was adjusted upward at €690-750 per tonne on Wednesday August 27.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, was unchanged at €750 per tonne on the same day.
Meanwhile, workable levels for rebar in Northern Europe were heard at €710-730 per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, remained unchanged at €710-730 per tonne on August 27.
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 unchanged at €660-680 per tonne on August 27.
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.
