European domestic rebar prices remained steady in the week to Wednesday June 10, despite continued upward pressure from Italian mills amid weak demand and low buyer appetite.
Market participants said that consumers remained in a wait-and-see mode, with no significant improvement in demand across Europe due to high prices and slow project development.
“This slowdown in demand is further compounded by the adverse weather conditions of this period, which are inevitably affecting operational activities,” one buyer source told Fastmarkets.
In Italy, tradable prices remained within the wide range of €710-770 ($820-889) per tonne ex-works, depending on the region, with deals continuing to be concluded within these levels and buyers resisting higher prices.
In the north, offers were reported at around €710-730 per tonne ex-works, while in the south, mills’ prices remained at about €750-770 per tonne ex-works, with limited volumes traded at the upper end of the range.
Higher indicative offers were heard, with mills attempting to raise the minimum price to €720 in the north and €760 in the south, although market acceptance remained limited.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €710-750 per tonne on June 10, unchanged week on week.
In Spain, tradable prices for steel reinforcing bar (rebar), domestic, delivered Spain, remained at €750 per tonne (16mm base), in line with Fastmarkets’ assessment.
In Germany, domestic rebar prices were also stable, with tradable levels reported within the range of €710-730 per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Northern Europe was €710-730 per tonne in the week to June 10, unchanged from the previous week.
Steel wire rod followed the overall trend in European long steel markets and remained unchanged over the same period.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Northern Europe was €705-720 per tonne delivered on June 10, unchanged compared with the previous week.
In Southern Europe, tradable levels were reported within the range of €690-720 per tonne delivered, with transactions heard at the upper end of the range.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe was €690-720 per tonne, stable week on week.
