Participants have largely withdrawn from the market because of summer-related closures across Europe.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €575-605 ($624-656) per tonne on Wednesday, unchanged since July 19.
Seasonality and depressed demand also resulted in quiet conditions in the Northern European rebar market, sources noted. As a result, prices were unchanged this week.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, was €570-610 per tonne, unchanged since July 12.
Market participants said they do not foresee prices changing until the end of August or beginning of September, when mills begin to reopen.
Published by: India-Inés Levy