European steel rebar producers continued to seek higher prices in the domestic markets amid rising costs and tightening import activity in the week to Wednesday April 15, but regional acceptance was uneven, trade sources told Fastmarkets.
n Germany and France, new rebar offers were heard at €700 ($824) per tonne delivered.
Most recent estimates of workable levels in Northern European market were within the range of €665-680 per tonne delivered when Fastmarkets’ made its weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, on April 15 at €665-680 per tonne, up from €655-665 per tonne on April 8.
After publication, market sources reported that prices closer to €700 per tonne delivered were being gradually accepted in Germany.
“You would see a wide range of prices these days, because the market is exposed to constant change, from rising scrap and electricity costs to more pressure on import material [because of] regulations,” a German producer said, but adding that market sentiment remained positive.
In Southern Europe, customers’ responses were also mixed, with Spanish buyers accepting higher prices but those in Italy mainly taking a wait-and-see stance.
In Spain, suppliers managed to achieve €730 per tonne delivered base in some deals (corresponding to €745 per tonne delivered effective) when the weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, was published on April 15 at €725-745 per tonne, up from €715-725 per tonne on April 8.
Later in the day, information emerged about larger volumes being sold at this price and mills now seeking €750 per tonne delivered base, €765 per tonne delivered effective.
Italian suppliers also announced higher offers at €710-720 per tonne ex-works for the North and €740-750 per tonne ex-works for the South.
These higher prices, however, have not been achieved in deals, with customers postponing the booking of new volumes while seeking more clarity on the situation.
Estimates of workable prices for the North remained at €670-680 per tonne ex-works, while in the South prices are traditionally €20-30 per tonne higher, which would correspond to €690-710 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, widened upward slightly to €670-710 per tonne ex-works on April 15, compared with €670-700 per tonne on April 8.
Wire rod offers in Southern Europe varied within the wide range of €670-710 per tonne delivered, with the lower end representing Italy and higher end Spain.
Unlike in rebar, mills were more successful in winning deals at the above prices.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe, was €670-710 per tonne on April 15, up from €650-680 per tonne on April 8.
