Northwest European domestic rebar prices continued to soften week on week on Nov. 2 amid a lack of activity.
Platts assessed TSI Northwest Europe rebar down Eur10 to Eur850/mt ex-works week on week.
One seller source highlighted slow demand and noted that there was no current tradable level for rebar amid a lack of activity in the market.
One distributor source in the Benelux region also cited weak demand, adding that prices were changing on a weekly basis for long steel products in the domestic market, so buyers were holding back to gauge a better idea of the market. In addition, transportation costs were stable at elevated levels, and customers were hoping for prices to come down before placing any orders.
The source indicated a workable level for rebar in the domestic market at Eur865/mt delivered Benelux.
One Europe-based trader indicated a tradable value for rebar in the domestic Northwest European market around Eur870/mt delivered, but only for small volumes, as customers still had high stock levels.
One Italian mill source noted that some local mills in Germany were lowering prices for rebar in the domestic market amid weak demand, while some local mills were maintaining relatively higher prices. However, he indicated that Eur860/mt delivered levels might be workable for rebars from local suppliers in Germany.
Elsewhere, European domestic steel sections prices were stable week on week to Nov. 2, as sources reported slow demand. The Platts assessment of European medium sections (category 1, S235 JR) remained flat at Eur1,125/mt delivered on Nov. 2.
One European mill source cited that transactions were being booked around Eur1,150/mt delivered, even if the volumes or number of transactions were lower.
One Benelux-based distributor source cited a tradable value for category-1 medium sections stable week on week at around Eur1,100-Eur1,150/mt delivered Benelux. The source noted that demand was better for their market, however he expected energy prices to increase as winter season approached, indicating that it might lead to mills increasing prices for long steel products in the near term.
Another distributor source in the Benelux region indicated a workable level for beams at Eur1,130/mt delivered.
Platts is part of S&P Global Commodity Insights.
— Rabia Arif, Staff
