Market participants reported that demand conditions showed only slight improvement supported by production cuts but remained insufficient to support higher price levels across most regions.
“The market demand is slightly improving, so prices are consolidating,” a buyer source said to Fastmarkets.
Deals continued to be concluded within the established range, with buyers showing resistance to higher price levels.
In the North, tradable levels were estimated in the range of €710-730 ($830-854), unchanged week on week. In the South, transactions took place within the range of €750-770 with only minor tonnages sold at the upper end of the range.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €710-750 per tonne on May 13, unchanged week on week.
In Spain, tradable levels of rebar delivered were reported at €750 per tonne delivered base (16 mm diameter), indicating firm market conditions, which was reflected in the corresponding Fastmarkets assessment, steel reinforcing bar (rebar), domestic, delivered Spain.
In Germany, tradable levels of domestic rebar were reported within the range of €710-730 per tonne, with limited variation in pricing levels across the country.
Thus, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €710-730 per tonne in the week to May 13, unchanged compared with the previous week.
Wire rod prices showed mixed trends in Europe in the reported week.
In Northern Europe, prices edged higher, reflecting slightly improved tradable levels in the region.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, increased to €705-720 per tonne on May 13, from €700-720 per tonne in the previous week.
In contrast, wire rod prices in Southern Europe remained unchanged, with limited trading activity reported.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, was €690-720 per tonne on May 13, unchanged week on week.
