The Northwest European prices for rebar and medium sections remained largely stable in the week to June 19, as construction works were reported to have slowed down due to poor weather conditions in recent weeks.
A distributor source said that “there is no big change; prices are stable at the moment. We are not expecting a change in the short-term.”
The source indicated tradable values for medium sections at Eur740-750/mt delivered and reported mill offers at Eur750-760/mt delivered.
Sources are expecting a much quieter period in the near-term with one source saying, “demand is not great. Mills will close in July and August for the summer holidays. This has normally been the quieter period.”
Another distributor source also said that, due to unfavorable economic conditions and the push for environmental sustainability in the construction industry, demand for domestic rebar in Germany and the Benelux region was generally low.
In relation to the green steel agenda, the source reported that, “mills have increased offers and are asking for 50-100 Euros more per tonne.”
Platts assessed the price of Northwest European rebar stable on the week at Eur610/mt ex-works.
Meanwhile, Platts assessment of European medium sections dropped Eur5 on the week to Eur750/mt delivered Benelux.
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