European rebar prices held firm in the week to 20 June, stabilising after a slight downward trend.
In Northwest Europe, market participants reported prices in the range of EUR615-635/t as negotiable against offers between EUR630-640/t delivered. McCloskey sees rebar prices as stable on the basis of reported indications, at EUR625/t delivered Northwest Europe.
Prices in the region appear to be relatively consolidated, with domestic and both South European and international imports material at effective parity. FOB export prices for Spanish origin long products were reported by traders at EUR580/t, deliverable to Northern Europe at EUR630/t DDP.
Input scrap prices have traded relatively sideways in the last three months, seeing a dip into April and a short recovery in May, before returning to prices above EUR250/t delivered Amsterdam Dock in June.
Production costs continue to be the primary driver of European rebar prices, fragmenting markets regionally on the basis of national energy price variances, and logistical efficiencies.
Benjamin Steven
