Northwest European domestic rebar prices soften as buyers hold back

Northwest European domestic rebar prices softened during the week to Sept. 14, as sources reported slow demand.

The Platts assessment of TSI Northwest Europe Rebar was down Eur15/mt to Eur975/mt ex-works Sept. 14, according to S&P Global Commodity Insights data.

One seller source noted slow demand in the market and added, “no actual price level because there are no inquiries.” He indicated that workable levels for rebars in the Northwest European domestic market seemed stable week on week at Eur1,000/mt delivered.

One distributor source based in the Benelux region noted that customers are in wait-and-see mode.

“The market is very anxious about what will happen regarding energy prices because if it’s not taken care of, the increase for households might be four to six times higher, which is not affordable for anyone,” he said.

The source noted that the European Commission was trying to devise a plan to tackle the energy crisis in Europe and buyers were holding back to see what might happen, as in case energy prices come down, prices for long products might as well.

The source indicated a workable level for rebars in the domestic market at Eur995/mt delivered Benelux.

One European mill source indicated a workable level for rebars in the domestic Northwest European market around Eur950-Eur1,000/mt delivered.

Elsewhere, the Platts assessment of European medium sections price (category 1, S235 JR) was stable at Eur1,250/mt delivered Sept. 14 week on week.

One Benelux-based distributor source indicated a workable level at Eur1,275/mt delivered Benelux, while another distributor source in the region cited a tradable level for 500-1000 mt of beams at Eur1,250/mt delivered Benelux.

One European mill source put mill offers for category 1 medium sections at Eur1,300/mt delivered, with a tradable value of Eur1,270-Eur1,280/mt delivered. The source noted that demand was low, but it was expected since it picked up strongly after the summer holidays.

Another European mill source indicated a tradable value for beams at Eur1,200-Eur1,225/mt delivered, adding that the mill was targeting Eur1,275/mt delivered, but workable levels were less since demand was low.

— Rabia Arif, Staff