Northern European rebar prices widened upward, as customers in the Netherlands and Austria accepted small price rises amid high input costs. But, in Germany, unchanged prices were reported amid ongoing weak demand.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €620-660 ($643-685) per tonne on Wednesday, widening upward by €20 per tonne from €620-640 per tonne on February 5.
In Germany, workable prices for rebar were reported around €620-640 per tonne. Meanwhile, in the Netherlands and Austria, higher prices of €630-660 per tonne were reported.
“The rebar market is very quiet at the moment, and there is minimal activity and very little appetite either for domestic stock or for imports,” a buyer source told Fastmarkets.
Meanwhile, tradeable prices for rebar import deals were reported at €560-580 per tonne CFR, while offers were reported at much higher levels — €590-600 per tonne CFR.
Bullish scrap costs put further pressure on mill margins, Fastmarkets heard.
International scrap prices continued to increase amid a bullish outlook in the US domestic scrap market, following Donald Trump becoming president and his push for a protectionist agenda.
International scrap prices further increased as a result of improved consumption for domestic rebar in Turkey putting additional upward pressure on domestic scrap prices, Fastmarkets heard.
As a result, Fastmarkets’ calculation of its daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $353.17 per tonne on Wednesday, up from $347.28 per tonne on February 5.
Fastmarkets’ corresponding weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe was €610-625 per tonne on Wednesday, narrowing week on week from €600-635 per tonne.
Deals for wire rod were reported at higher prices — €610-625 per tonne.
