Steel rebar prices were steady in most parts of Europe in the week to Wednesday June 25, with Spain being the only market to show a significant change, Fastmarkets has learned from various market sources.
In Northern Europe, prices were largely unchanged over the wee, varying within the range of €615-640 ($716-745) per tonne delivered, which was reflected in Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe.
In some countries, such as Denmark, offer prices were heard as high as €650 per tonne delivered, while in Germany and Netherlands they did not go above €640 per tonne delivered.
Workable prices, however, were estimated largely within the range of €615-630 per tonne delivered, including in Austria.
A local source said that the Northern European market was trying to align more with the trend in Italy, but remained comparatively much higher.
In Italy, asking prices from mills were largely unchanged. In the north of the country, 8-16 mm B450C rebar was available at €510-530 per tonne ex-works, while in the south the minimum asking price was reported to be €540 per tonne ex-works.
There were reports that some suppliers were attempting to increase offers. But at the same time, a trading source reported bookings in the north at €500 per tonne ex-works.
Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, exw Italy, widened downward to €500-560 per tonne on Wednesday, from €510-560 per tonne on July 18.
Spain was the only region to demonstrate any positive change. Maret sources reported prices up by €10 per tonne over the week, with increased production costs triggered by higher scrap and electricity prices.
As a result, Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, rose to €625-630 on June 25, from €615-620 per tonne on June 18.
