Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy, was €660-675 ($724-741) per tonne on Wednesday, unchanged since July 26.
Market participants do not expect prices to change until mills resume trading in September.
“The market is on ‘holiday mode’ across Europe and there are no sales at the moment. As a result, prices remain stable and unchanged from last week,” a producer source in Italy said.
“The market is flat due to summer closures,” a buyer source in the region said.
Prices in the Spanish rebar market also remained stable this past week.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered, Spain, was €640-650 per tonne on Wednesday, flat since July 12.
Market participants expect to gain greater clarity on price and demand direction when mills reopen in September.
Prices in the Southern European wire rod market were also unchanged this week due to the summer closures, sources told Fastmarkets.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, was €580–600 per tonne on Wednesday, unchanged since July 26.