The French rebar market is finally shaking off its long-lasting stagnation. Sellers in the north and south of the country report some restocking and an improved level of demand over the past week. Prices remain steady and some sources believe a slight uptick is possible in the coming days.
Like in November, in the south of the country, particularly, competitive import offers from Spain are being reported. November was a particularly slow month for sales but December is bringing some dynamism, with customers ordering material for January, Kallanish notes.
Including size extras, domestic contracts are concluding at an average of €720-730/tonne ($760-771) ex-works delivered, sources suggest. Sellers, also in Germany and Italy, are reporting higher order intake over the past ten days following a long period of slow sales. French buyers however remain cautious and do not believe demand for rebar will remain strong in January.
Meanwhile, French and Luxembourg domestic scrap prices are flat again in December after the stability seen in November. Some large merchants have lowered their scrap intake, but this is not pressuring availability as mill demand for scrap remains poor due to the European long steel downturn (see Kallanish 9 December).
Natalia Capra France