Producers across Northern Europe have closed for the summer holidays and trading is expected to remain slow until mid-August when mills reopen.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €575-605 ($656-678) per tonne on Wednesday, widening by €5 per tonne at both ends of the range from €580-600 per tonne on July 12.
Market activity was limited in the Northern European rebar market in the week to Wednesday, with most producers heard to have closed for the summer holidays.
At the same time, some participants reported attempts by a few mills to raise their prices this week, but expressed doubts about whether the increases would be accepted amid such low activity.
“The market remains very quiet and demand is very weak because we are on holidays,” a buyer source from the Netherlands told Fastmarkets.
“Some mills are trying to raise prices, but I don’t know whether the market is accepting these price rises,” a trader source said.
At the same time, Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, was €570-610 per tonne on Wednesday, unchanged from July 12.
Prices in the Northern European wire rod market were unchanged this past week given that demand remained slow, according to sources.
Published by: India-Inés Levy