European domestic prices for steel rebar remained stable in the week to Wednesday May 20, despite some attempts by Italian mills to push for higher prices, with market acceptance constrained by weak demand conditions.
Market participants reported that demand was still weak, with limited buying activity due to high prices and adverse weather conditions, which led major construction sites to restart work only toward the end of May.
“Domestic producers are all reducing production to guarantee an optimum demand/supply balance,” one seller source told Fastmarkets.
Deals continued to be concluded within earlier established ranges, with buyers showing resistance to higher prices and taking a wait-and-see-approach.
In Italy, tradable prices varied within the wide range of €710-770 ($832-903) per tonne ex-works, depending on the region. In the north, price ranges were €710-730 per tonne ex-works, unchanged week on week. In the south, tradable levels were within the range of €750-770 per tonne ex-works, but no meaningful volumes were traded at the upper end of the range.
A few higher indicative offers were heard in the range of €850-860 per tonne, but no deals were agreed to support them.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Italy, was €710-750 per tonne on May 20, unchanged week on week.
In Spain, tradable prices for steel reinforcing bar (rebar), domestic, delivered Spain, were reported at €750 per tonne delivered (16mm base), indicating stable market conditions, which was reflected in Fastmarkets’ assessment.
In Germany, prices for domestic rebar were reported within the range of €710-730 per tonne delivered, with limited variations across the market and subdued trading.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €710-730 per tonne in the week to May 20, unchanged from the previous week.
Steel wire rod prices remained largely stable across Europe in the week.
In Northern Europe, tradable prices were reported within the range of €705-720 per tonne delivered, with no significant change from the previous week.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, Northern Europe, was €705-720 per tonne delivered on May 20, unchanged week on week.
In Southern Europe, wire rod prices were reported within the range of €690-720 per tonne delivered, with offers within that range.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, was €690-720 per tonne on May 20, also unchanged week on week.
European sections and beams
European domestic section prices were reported stable at €800-840 per tonne delivered, which was reflected in Fastmarkets’ monthly price assessment for steel sections (medium), domestic, delivered Southern Europe.
The corresponding monthly assessment for steel beams domestic, delivered Northern Europe, was €790-820 per tonne, rising from €780-810 per tonne in April.
Domestic beam prices edged upward month on month, with tradable prices reported at €790-820 per tonne delivered across Europe, with a deal heard at €815 per tonne.
