The French rebar market continues to stagnate, with order intake low and buyers adopting a wait-and-see attitude. Prices are steady on last week but have lost over €100/tonne ($103) since early November.
In the south of the country, particularly, values have been dragged down by competitive import offers from Spain, distributors report. The French market is currently one of the slowest in Europe. In neighbouring countries, Italy and Germany, markets are also quiet but prices are higher and some limited volumes are being sold regularly every week. In France, November has not brought the usual restocking for the end of the year, and no restocking is expected in December, Kallanish notes.
Including size extras, domestic contracts are at an average of €700-720/t delivered, sources suggest.
On a brighter note, 2022 has been a record year for all players throughout the value chain despite the slow fourth quarter. Sources expect a hard Q1 next year, with a big question mark over energy prices. December production plans will depend on increasing energy costs, which are forecast to skyrocket in the coming days. If this happens, local producers may be forced to shut down production earlier than expected this month.
Natalia Capra France