“There is very slow demand in the residential sector and a very slow speed on public infrastructure sites,” a buyer source told Fastmarkets.
Market participants continued to adopt a wait-and-see approach, citing elevated price levels and resisting ongoing upward pressure from Italian producers.
“The high prices are discouraging many construction sites from starting,” another buyer source told Fastmarkets.
The continuing heatwave in Italy was also reported to be dampening activity.
Tradable levels in Italy remained within the range of €710-770 ($809-878) per tonne ex-works, depending on the region, with transactions continuing within these levels.
In the north of Italy, offers were reported at €710-730 per tonne ex-works, while in the south, mills maintained levels at €750-770, with limited volumes traded at the top end.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €710-750 per tonne on June 24, unchanged week on week.
In Spain, tradable prices for steel reinforcing bar (rebar), domestic, delivered Spain, held at €750 per tonne week on week (16mm base), consistent with Fastmarkets’ assessment.
In Germany, domestic rebar prices were unchanged, with tradable levels reported at €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 24, unchanged from the previous week.
Steel wire rod mirrored broader trends in the European longs market and remained unchanged over the same time period.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Northern Europe was €705-720 per tonne delivered on June 24, unchanged compared with the previous week.
In Southern Europe, tradable levels were reported within the range of €690-720 per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe was €690-720 per tonne, stable week on week.
Author: Nia Radenkova
