Long steel prices in France have remained stable over the past week. At the start of July, there was a modest, €10/tonne ($10.8) uptick in values due to a rebound in apparent demand and a technical restocking ahead of the August holiday break, Kallanish notes.
The average transaction value for domestic rebar remains unchanged at €625-630/t delivered. Merchant bar prices have also remained stable this week, following a slight increase in deal prices compared to last month. Currently, prices are averaging at around €670/t delivered.
Sections are experiencing a resurgence in apparent demand, leading to a boost in prices. Values have been successfully increased by approximately €20/t since the start of June. The estimated range for the first category of sections is at approximately €760-770/t delivered.
According to national construction federation Fédération Française du Bâtiment (FFB), construction volumes remain low and there is no indication of any improvement. During the first quarter, there was a 4.6% year-on-year decline in production within the construction sector. There was a 7% y-o-y decline in new housing starts over the three-month period ending in May, while new building permits experienced a 11.4% decrease.
Natalia Capra France