Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy, was €645-670 ($703-730) per tonne on Wednesday, down by €5-15 per tonne from €660-675 on August 23.
Prices fell in the Italian rebar market as a result of weak demand and bearish sentiment ahead of the mills officially reopening.
While some market participants have already returned, steel mills are expected to officially reopen at the beginning of September, Fastmarkets understands.
“The market is still flat, and the construction sites will only return to full working capacity this week,” a buyer source said on Wednesday.
“Demand across Europe is still… dead as the market waits for mills and customers to return from the summer holidays,” a producer source said.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered, Spain, was €640-650 per tonne on Wednesday, unchanged since July 12.
Prices remained unchanged in the Southern European wire rod market because of seasonality and continuing weak demand, sources said.
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.
Published by: India-Inés Levy