Rebar prices in the domestic market of Italy continued moving downward in mid-February while other European markets remained firm, Fastmarkets heard on Wednesday February 18.
“Unfortunately, weather conditions are not in our favor. It has been raining for quite some time and this doesn’t help construction activities,” a cut-and-bend producer said.
“Rebar price continues to be under pressure,” a trading source said.
Prices varied within the range of €565-600 ($668-709) per tonne ex-works during the reported week compared with €570-620 per tonne ex-works a week earlier. Prices closer to the lower end traditionally refer to northern regions while the upper end refers to the south.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy changed accordingly, falling to €565-600 per tonne on February 18 from €580-620 per tonne ex-works on February 11.
In Spain, meanwhile, rebar prices remained strong with the base price, which corresponds to 16 mm diameter 12 m length material, hovering at €665 per tonne ex-works. The average extra for other diameters is said to be €15 per tonne.
Thus, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Spain remained stable on February 18 at €665-680 per tonne.
In northern Europe, prices also remained stable although market participants noted some tension between buyers and sellers.
Sellers in the region are trying to at least maintain prices, referring to high production costs, particularly scrap and electricity, while buyers cite sufficient stocks and a lack of demand, which is traditional for the winter season, which this year is tougher than normal.
Offers for rebar varied within the range of €615-640 per tonne delivered, depending on supplier and country, with higher levels traditionally observed in the Netherlands and Nordic countries while the lower end is for Germany and Austria. Estimates of workable prices in the latter were heard at €610-620 per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Northern Europe continued varying within €610-640 per tonne, stable week on week.
