Fastmarkets price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €560-580 ($604-626) per tonne on Wednesday, down by €10 per tonne from €570-590 per tonne week on week.
Market participants attributed the downward price movement to weak activity in the Italian rebar market.
“Demand is not so good, bad weather is slowing building sites, so customers have to destock before buying new materials,” a buyer source said.
“Mills are trying to increase the rebar price, but low demand makes it difficult to invert the price trend,” he added.
“There is very little news. The market is very calm, but we think the price floor has been reached,” a second buyer source said.
Meanwhile, export offers from Italy were reported at $550-580 per tonne FOB Switzerland and France, sources said.
Meanwhile, Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered, Spain was €605-610 per tonne on Wednesday, stable week on week.
Market participants reported unchanged market conditions in the Spanish rebar market.
“Prices are stable, and consumption is still weak,” a producer source in the region said.
“The market is unchanged, and prices are stable. There is no buying of imported stock because the quota is full for the fourth quarter. Rumors are there is a lot of rebar imports arriving to European ports so there will be plenty of material before new quota opens on January 1,” a producer source said.
Southern European wire rod
Fastmarkets’ price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was €600-630 per tonne on Wednesday, widening up by €10 on the high end of the range week on week.
Published by: India-Inés Levy
