Rebar prices in Europe demonstrated negative dynamics during the week to Wednesday July 11 amid unsupportive demand, while those for wire rod were largely unchanged.
Fastmarkets’ assessment for steel reinforcing bar (rebar), domestic, exw Italy was €520-560 ($601-647) per tonne on Wednesday, down from €550-580 per tonne on July 4.
In the north of the country 8-16 mm bars were offered within the range of €520-560 per tonne ex-works, according to various sources including mills, traders and cut and bend mils.
A trading source said that some mills may accept even the level of €510 per tonne ex-works in case of large orders. But buying activity was largely limited to strictly necessary volumes.
A cut and bend source mentioned that prices in Italy are unlikely to keep falling further amid strengthening prices in the scrap segment and expectations of higher energy costs in the summer.
With lower offers in the domestic market, Italian material was also available at discounted prices for customers in Northern Europe.
This week, a source from Austria reported that Italian rebar was offered at €615 per tonne delivered versus €630 per tonne a week ago.
After the assessment was published, information came to light that the level of €605 per tonne delivered was achieved in negotiations.
German rebar was available at €630 per tonne delivered in Austria, down by €10 per tonne week on week.
In Denmark, similar material was available at €650 per tonne delivered.
In the Netherlands, workable prices for rebar dropped to €635 per tonne delivered from €670 per tonne delivered heard in the previous weeks.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was €615-650 per tonne on Wednesday, down from €630-670 per tonne on June 4.
The only region where rebar has seen some upward correction was Spain. Offers in the country surged to €615-620 per tonne delivered, which was reflected in Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain.
The assessment moved up to €615-620 per tonne delivered on Wednesday from €600 per tonne delivered on June 4.
