Steel rebar prices in Europe diverged in the week to Wednesday June 18, with price direction varying depending on the region, sources told Fastmarkets.
In Italy 8-16 mm B450C rebar offers were largely unchanged at €520-560 ($598-644) per tonne ex-works, with a supplier in the north of the country taking an aggressive stance and reducing offer prices to as little as €510-515 per tonne ex-works, sources said.
The other mills in the north of the country were offering rebar at €520-530 per tonne ex-works.
In southern Italy, meanwhile, rebar was available at €540-560 per tonne, according to sources.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Italy widened to €510-560 ($601-647) per tonne on Wednesday, down from €550-580 per tonne on July 4.
Suppliers tried to maintain their offer prices for Italian rebar and were unwilling to provide discounts – either in the domestic market or in deals to northern Euorpe – because of increased scrap and energy costs.
One buyer from Northern Europe, who managed to book Italian material last week at €605 per tonne delivered, said he was now “struggling to get the same level” and estimated that potential deal prices could push up to €615 per tonne delivered this week.
Rebar from suppliers in Northern Europe was available at €630-640 per tonne delivered in the week to June 18, sources said, with one citing a slight revival in business activity this week because customers were restocking ahead of the summer holidays.
“You need to be worry-free to go on holiday,” the source said.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €615-640 per tonne on June 18, narrowing down from €615-650 per tonne on June 11.
In Spain, Fastmarkets’ price assessment for steel reinforcing bar (rebar) domestic, delivered Spain was stable at €615-620 per tonne delivered – a level regarded as acceptable my most customers.
