As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €650-680 ($739-773) per tonne on Wednesday, stable week on week.
Mills in Northern Europe managed to resist a downtrend despite falling scrap and energy costs.
Northern European mills have maintained higher prices since the beginning of the year due to a shrinking supply due to production stoppages.
Some sources reported bearish sentiment in the market regarding future prices.
Scrap costs have dropped since mid-April due to slow consumption for finished steel in the domestic rebar market combined with ongoing uncertainty around US tariff rates.
Fastmarkets’ calculation of its daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $318.00 per tonne per tonne on Wednesday down from $318.14 week on week and down from $375.67 per tonne month on month.
The corresponding Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe was €620-645 per tonne on Wednesday, stable week on week.
Offers in the region were reported at €620-645 per tonne.
“Prices are currently stable, and outlook remains positive in the Northern European wire rod market,” a producer source said.
Published by: India-Inés Levy
