Market participants reported uncharacteristically weak demand for this time of the year, with limited buying due to high prices, adverse weather conditions and slow progress in construction projects.
“Usually June and July are good selling months, but at the moment demand seems to be more typical of winter,” one trader source told Fastmarkets.
In Italy, tradable prices varied within the wide range of €710-770 ($823.50-893.10) per tonne ex-works, depending on the region.
Deals continued to be concluded within established ranges, with buyers adopting a wait-and-see approach.
In northern Italy, price ranges were €710-730 per tonne ex-works, unchanged week on week. In the south of the country, tradable levels were within the range of €750-770 per tonne ex-works, although no meaningful volumes were traded at the upper end of the range.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Italy was €710–750 per tonne on Wednesday, unchanged week on week.
Fastmarkets’ assessment of steel reinforcing bar (rebar), domestic, delivered Spain remained at €750 per tonne, in line with tradeable prices.
In Germany, domestic rebar prices were also steady, with tradable levels reported within the range of €710–730 per tonne delivered and limited variation across the market.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €710–730 per tonne in the week to Wednesday, unchanged from the previous week.
Meanwhile, steel wire rod prices were largely unchanged across Europe in the assessed period.
In Northern Europe, tradable prices were reported within the range of €705-720 per tonne delivered, with no significant change from the previous week.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, Northern Europe was €705-720 per tonne delivered on Wednesday, unchanged week on week.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe was €690-720 per tonne, stable week on week.
European sections and beams
European domestic section prices remained stable over the past month.
Fastmarkets’ assessment of steel sections (medium), domestic, delivered Southern Europe was at €800–840 per tonne delivered, unchanged from the previous month.
Domestic beam prices also held month on month, with tradable levels reported at €790–820 per tonne delivered across Europe.
Fastmarkets’ monthly assessment for steel beams, domestic, delivered Northern Europe was €790–820 per tonne, unchanged month on month.
Author: Nia Radenkova
