Offers from mills in the North varied within the range of €540-565 ($611-640) per tonne ex-works, versus €550-570 per tonne ex-works a week earlier, while in the South prices were €565-580 per tonne ex-works, down from €570-600 per tonne last week.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €540-580 per tonne on May 21, down from €550-600 per tonne on May 14.
After the assessment was filed, a source from Italy said that some bookings had been heard at €530 per tonne ex-works in the north of the country.
“It seems as if Italian producers are spearheading the price decline in rebar in Europe, and Germany is resistant to following,” a source from Northern Europe said.
In the Netherlands and Germany, rebar offers remained at €680 per tonne delivered and higher, although estimates of workable prices were in the range of €630-655 per tonne delivered.
After the filing of Fastmarkets’ price assessment for rebar in Northern Europe, information came to light about local rebar being available around €640 per tonne delivered, and Italian material offers at €635 per tonne delivered.
But because this information came to light after the price collection window had closed, the price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, remained at €655-680 per tonne on May 21.
