The French rebar market is seeing a prolonged deadlock. After reporting weak sales in January, sellers and buyers say uncertainty remains and sales volumes are low. Since the last quarter of 2022, the country has been witnessing significantly lower consumption both on the domestic and export market, Kallanish hears.
Distributors say the local construction sector has orders in hand, but contractors are refusing to commit to volumes given the current uncertainty. Stock levels are not high at rebar buyers’ yards, who prefer to continue buying back-to-back or are adopting a wait-and-see attitude. Other producers in European countries such as Italy and Spain are dealing with the same stagnating market while trying to keep their prices from falling.
Domestic rebar prices have lost some €40/tonne ($42) on average compared to January and are hovering at €670-710/t delivered, depending on quantity, sources suggest.
Sentiment among French construction companies deteriorated in January. According to the latest l’Institut National de la Statistique et des Études Économiques (Insee) report, the construction firms surveyed were less optimistic than in December regarding their expected and past activity (see Kallanish 31 January).
Natalia Capra France
